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Global Ship Lease, Inc. Message Board

  • jdfunnell Jul 24, 2012 12:48 PM Flag

    Money for nothing, ships for free

    Given the redemption of a few prefs, the net day rate ends up at something like $3,662.

    That number is likely at (or below) what we pay CMA ships for operating the vessels.

    CMA is getting these ships basically for free for 8 months. So, what's in it for us?

    As stated in the PR, 8 months hence is a better market to be chartering into, so we have a shot at getting a more decent price.

    It's pretty obvious CMA did not want to recharter these, but getting them for free was a help. And at least we don't have to lay them up.

    The more negative view is that conditions might not be improved when the new charters end. In which case we are simply kicking the inevitable down the road. We saw how that worked out with Zim.........Dave

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