Global Ship Lease (GSL) has bought four older post-panamax container ships for $123m and will charter them back to the undisclosed seller for at least two years.

The UK-based shipowner will charter the 8,500-teu vessels, which have an average age of about 20 years, for 24 months and give the seller the option to charter them for another year.

New York-listed GSL expects the fixtures to make $76.6m