Global Ship Lease has been forced to take a major pay cut to extend the charter of two feederships to CMA CGM.

The French liner giant has agreed to take the 2,207-teu Julie Delmas (built 2002) and the Delmas Keta (built 2003) for another 12 months.

Global Ship Lease says CMA CGM will pay a fixed rate of $7,800 per vessel per day.