The TEU weighted average remaining term of our charters at September 30, 2017 was 3.3 years, taking into account the new charter for the GSL Tianjin which commenced with CMA CGM immediately upon its redelivery on October 25, 2017. Contracted revenue as of September 30, 2017, was approximately $518 million.

Our objective is to maintain a staggered expiration of our time charters in order to reduce re-chartering risk and maintain stable and predictable revenue.

Our time charter portfolio is shown below.

1Twenty-foot Equivalent Units.

2Date shown is the earliest in a 180-day delivery window (i.e. +/- 90 days from formal expiry) for all vessels other than OOCL Qingdao, OOCL Ningbo, Julie Delmas, and Delmas Keta which have 90-day delivery windows, all at charterer's option. For Marie Delmas and Kumasi, Global Ship Lease has three consecutive option periods beginning in September 2017, the first of 1.25 years and the second and third of one year each, through December 31, 2020 at a rate of $9,800 per day. The first option has been declared. GSL Tianjin has been chartered from October 25, 2017 for 3-8 months, at charterer's option.

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