What Crew Members Say About Kumasi

In a notable development for the shipping industry, Cosco has officially secured a new charter agreement, committing to 34 to 36 months of trading in the Asian market. The deal is set at a daily rate of $32,000, marking a significant investment in the region's maritime activities. This charter is poised to enhance Cosco's fleet operations and strengthen its position within the competitive Asian shipping landscape.

Global Ship Lease, Inc. (NYSE:GSL) has successfully negotiated an extension for the charters of its two 2,207-TEU container vessels, the Marie Delmas and Kumasi, with CMA CGM. This strategic move, announced in a press release on Wednesday, enables GSL to extend their charters for a maximum of 3.25 years at its discretion. Under the terms of this agreement, a revised daily charter rate of $13,000 will be effective from August 1, 2016, continuing until the vessels’ initial earliest expiry dates in September 2017. Following this period, Global Ship Lease has secured three consecutive optional extensions: an initial extension of 1.25 years followed by two additional one-year options, which can run up to December 31, 2020, at a reduced rate of $9,800 per day. This extension not only solidifies GSL’s partnership with CMA CGM but also enhances their operational flexibility in the competitive maritime industry.