Global Ship Lease Inc
NYSE:GSL
Global Ship Lease Inc
Global Ship Lease, Inc. is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. The firm's activity consists of the ownership and chartering out of containerships. The firm owns a fleet of mid-sized and smaller containerships. The firm's fleet consists of 65 containerships, ranging from 1,118 to 11,040 twenty-foot equivalent unit (TEU), with a total capacity of 342,348 TEU and an average age, weighted by TEU capacity, of 13.4 years. 32 ships are Post-Panamax, of which nine are wide beam.
Global Ship Lease, Inc. is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. The firm's activity consists of the ownership and chartering out of containerships. The firm owns a fleet of mid-sized and smaller containerships. The firm's fleet consists of 65 containerships, ranging from 1,118 to 11,040 twenty-foot equivalent unit (TEU), with a total capacity of 342,348 TEU and an average age, weighted by TEU capacity, of 13.4 years. 32 ships are Post-Panamax, of which nine are wide beam.
Contracted revenue: $2.24 billion of forward contracted revenue with 2.7 years of remaining cover (99% coverage for 2026; 81% for 2027).
Dividend: Quarterly dividend was increased; on an annualized basis the dividend is now $2.50 per common share.
Balance sheet: Cash of $637 million (of which $164 million restricted), net debt close to neutral, average debt maturity extended to 4.5 years and blended cost of debt reduced to 4.49%.
Fleet purchase: Acquired three 8,600 TEU ECO-upgraded sister ships for an aggregate purchase price of $90 million (funded largely with proceeds from sales of older ships).
Market backdrop: Middle East disruptions (Red Sea and Strait of Hormuz) and trade-fragmenting policies are increasing volatility and supporting demand for midsize and smaller containerships.
Charter market: Strong charter appetite — management added 52 charters (including exercised options) representing $1.26 billion of additional contracted revenue and emphasized continued willingness of charterers to lock in attractive multi-year rates.
Capital returns & activity: $46.2 million gain from sale of 4 older ships in 2025; an $85 million refinancing completed; order book growth concentrated in very large ships (segments below 10,000 TEU are much smaller).
