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Global Ship Lease says annual loss widens to US$65 million
UK-BASED containership owner Global Ship Lease (GSL) says it's loss for 2016 has widened to US$65.1 million on operating revenues of $166.5 million.
The company ended the year on December 31 with a fourth-quarter loss of $54.3 million, Marine Link reported.
Ian Webber, CEO of Global Ship Lease, stated: "In 2016, we maintained a strong focus on maximising the profitability of our long-term, fixed-rate time charters and ensuring our insulation and resilience in the face of a challenging market environment."
On December 31, 2016, the company owned 18 vessels with a total capacity of 82,312 TEU and an average age, weighted by TEU capacity of 12 years.
All vessels are currently fixed on time charters, 15 with CMA CGM, and the average remaining term of the charters is 3.9 years or four years on a weighted basis.
The company ended the year on December 31 with a fourth-quarter loss of $54.3 million, Marine Link reported.
Ian Webber, CEO of Global Ship Lease, stated: "In 2016, we maintained a strong focus on maximising the profitability of our long-term, fixed-rate time charters and ensuring our insulation and resilience in the face of a challenging market environment."
On December 31, 2016, the company owned 18 vessels with a total capacity of 82,312 TEU and an average age, weighted by TEU capacity of 12 years.
All vessels are currently fixed on time charters, 15 with CMA CGM, and the average remaining term of the charters is 3.9 years or four years on a weighted basis.
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