ATHENS, Greece, June 17, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE: GSL) (the “Company” or “GSL”) today announced that its 2025 Annual Meeting of Shareholders was duly held on June 17, 2025 in Athens, Greece (the “Annual Meeting”). At the Annual Meeting, the shareholders of the Company (i) re-elected each of three directors, George Giouroukos, Ian J. Webber and Michael Chalkias, to serve until the Company’s 2028 Annual Meeting of Shareholders and until such time as his respective successor has ...

Global Ship Lease (GSL) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.27 per share. This compares to earnings of $2.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.74%. A quarter ago, it was expected that this containership owner would post earnings of $2.30 per share when it actually produced earnings of $2.55, delivering a surprise of 10.87%.Over the last four quarters, ...

Global Ship Lease (GSL) Q1 2025 Earnings Call May 19, 2025 10:30 AM ET Company Participants Thomas Lister - CEO & Chief Commercial OfficerGeorge Youroukos - Executive ChairmanTassos Psaropoulos - CFOLiam Burke - Managing DirectorOmar Nokta - Managing Director Operator Good day, everyone, and thank you for standing by. My name is Argy, and I will be your conference operator today. At this time, I would like to welcome everyone to the Global Ship Lease Q1 twenty twenty five Earnings Conference Call. All lines ...

Financial Data and Key Metrics Changes - The company reported an increase in earnings and cash flow compared to Q1 2024, which was already a strong quarter [12] - Gross debt increased to just under $778 million due to financing of recently acquired vessels, while cash position stood at $428 million, with $90 million restricted [12][13] - The net debt to EBITDA ratio has improved to under 1, down from 8.4 times at the end of 2018, indicating significant deleveraging [14] Business Line Data and Key Metrics Changes - The company added 19 charters worth approximately $352 million in contracted revenues during Q1 2025, bringing total contracted revenues to nearly $1.9 billion with an average remaining contract cover of 2.3 years [9][10] - The company has maintained a disciplined approach to fleet renewal and capital allocation, focusing on maximizing optionality while covering CapEx obligations [10] Market Data and Key Metrics Changes - The container ship charter market remains exceptionally tight, with essentially zero idle capacity globally, despite normalization of headline freight rates [5] - The company noted that tariffs and trade barriers have complicated the macroeconomic picture, but demand for mid-sized and smaller container ships remains strong [5][6] Company Strategy and Development Direction - The company aims to maximize optionality to take advantage of the cyclical nature of the industry while ensuring long-term strength in any market conditions [7][8] - The strategy includes opportunistically monetizing older ships to build cash reserves for investment and fleet renewal [6][10] Management's Comments on Operating Environment and Future Outlook - Management highlighted the extraordinary volatility and uncertainty in the macro and geopolitical environment, focusing on financial resilience and maximizing optionality [33] - The company is well-positioned to pursue opportunities as they arise, particularly in renewing its fleet as older vessels age out [35] Other Important Information - The company has increased its annualized dividend to $2.1 per share, a 40% increase from the previous year [7] - The average cost of debt has been reduced to 3.99%, providing a strong financial position amid rising operating expenses [14][33] Q&A Session Summary Question: Interest from charter customers to extend existing charters at better rates - Management indicated that it depends on which charters are rolling off, with some fixed during high periods likely to be lower if re-fixed now, but overall appetite for attractive rates remains strong [40][41] Question: Acquisition front and asset prices - Management stated they are always looking at deals but maintain strict criteria for acquisitions, only pursuing financially sensible opportunities [43][44] Question: Charter market characterization over the past week - Management noted a similar change in sentiment in the charter market, with a brief slowdown in April followed by renewed interest and appetite in recent weeks [52][53] Question: Cash position and future plans - Management emphasized the importance of maintaining a robust cash position for flexibility and resilience, while continuing to deleverage and manage risks [56][57]

1 st Quarter 2025 Results Presentation | 1Q 2025 Results 1 Disclaimer | 1Q 2025 Results 2 This presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute either advice or a recommendation re ...

Company Overview - Global Ship Lease, Inc. is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships [2] - The company commenced operations in December 2007 and was listed on the New York Stock Exchange in August 2008 [2] Fleet and Operations - As of December 31, 2024, the company had a fleet of 71 vessels with an average age weighted by TEU capacity of 17.6 years [3] - The company agreed to purchase newly acquired vessels, with three delivered in December 2024 and one in January 2025 [3] - The company sold an older vessel, Tasman, with expected delivery in late March 2025, and two more vessels, Akiteta and Keta, in February 2025 [3] Charter Agreements - The average remaining term of the company's charters, on a TEU-weighted basis, was 2.3 years as of December 31, 2024 [4] - Contracted revenue on a TEU-weighted basis was $1.88 billion, while total contracted revenue, including options under charterers' control, was $2.37 billion, representing a weighted average remaining term of 2.9 years [4] Dividend Declaration - The company's Board of Directors declared a dividend of $0.525 per Class A common share for the first quarter of 2025, to be paid on June 3, 2025 [1]

ATHENS, Greece, May 05, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the “Company”), a containership charter owner, announced today that it will hold a conference call to discuss the Company’s results for the first quarter 2025 on Monday, May 19, 2025 at 10:30 a.m. Eastern Time. The Company will issue financial results for the first quarter 2025 on Monday, May 19, 2025 before the open of market trading. What:First Quarter 2025 Conference Call and Webcast When:Monday, May 19, 2025 at 10:30 a ...

Global Ship Lease (GSL) shares soared 6.9% in the last trading session to close at $19.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.9% loss over the past four weeks.The stock gained following President Donald Trump's announcement that he would pause the "reciprocal" import taxes for 90 days.This containership owner is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year- ...

ATHENS, Greece, March 18, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the "Company"), a containership charter owner, filed its Annual Report on Form 20-F for the year ended December 31, 2024 (the "Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC"). In compliance with the New York Stock Exchange rules, a copy of the Form 20-F can be found under the Investor Relations section (Annual Reports) of the Company's website at http://www.globalshiplease.com. Shareholders may re ...

Industry Trends - The compound annual growth rate (CAGR) of containerized trade volumes from 2010 through 2024 is projected to be 3.0%, despite fluctuations due to COVID-19 and geopolitical tensions [30]. - The container shipping industry has experienced a cyclical downturn from 2008/2009 through 2016, with improvements noted from 2017 through 2019 [30]. - The container shipping market is cyclical and volatile, with growth and long-term profitability reliant on demand for containerships and charter market conditions [28]. - The container shipping industry is cyclical, with demand influenced by global economic conditions, trade policies, and geopolitical events [102]. - The net supply CAGR for the containership fleet from 2021 to 2024 is estimated at 7.5% [102]. - The ongoing geopolitical conflicts, including the Russia-Ukraine war and tensions in the Middle East, are expected to adversely impact the company's financial results and cash flows [114]. - The economic uncertainty due to the Ukraine conflict has led to increased inflationary pressures, particularly in fuel and grain prices, which may affect charter rates and operating expenses [115]. Financial Performance and Risks - The company is dependent on charterers fulfilling their obligations, with any failure potentially leading to reduced revenues and cash flow [30]. - The company has substantial indebtedness, which could limit its ability to raise additional capital and react to changes in the economy [28]. - The company faces risks from geopolitical events, including the ongoing wars and trade tensions, which may disrupt supply chains and affect charterers' operations [30]. - The company may struggle to recharter vessels at profitable rates upon expiry of existing charters, with several charters set to expire in the first half of 2025 [56]. - The company may encounter difficulties in obtaining new charters or financing due to perceived credit quality issues with charterers [36]. - The company is exposed to risks from vessel value fluctuations, which could affect financial condition and result in losses upon disposal [70]. - The company must satisfy financial covenants, including minimum liquidity and value adjusted leverage ratio, which depend on ongoing financial performance [60]. - The company may need to recognize impairment charges if vessel values decline, which could significantly reduce earnings and net assets [72]. - The company’s ability to raise capital may be limited by declining vessel values, affecting refinancing options and collateral availability [72]. - Weak conditions in the containership sector may hinder the company's ability to generate cash flows and maintain liquidity, affecting financing options [103]. Operational Challenges - The company may need to make substantial expenditures to maintain its fleet and meet new regulatory requirements [28]. - The company is dependent on third-party managers for ship operations, which may pose risks if these managers face financial difficulties [48]. - The company may incur substantial expenditures to maintain its fleet and comply with new regulatory requirements, which could increase due to rising labor and material costs [77]. - Extended periods of off-hire for vessels could materially adversely affect the company's business and financial results [75]. - The company relies on a stable supply of consumables and spare parts; delays or unavailability could lead to off-hire days and negatively impact revenues [145]. Competition and Market Dynamics - The company faces substantial competition in acquiring vessels, with limited financing options and high costs impacting growth potential [36]. - Increased competition in technology and innovation could reduce charter hire income and the value of the company's vessels [28]. - The competitive landscape may limit the company's ability to purchase additional vessels or expand relationships with existing charterers [40]. - An oversupply of containership capacity, currently at approximately 27.4% of the total fleet capacity, may lead to reduced charter hire rates and profitability [128]. - Increased competition from more technologically advanced vessels could adversely affect the company's ability to re-charter and the resale value of its vessels [129]. Regulatory and Compliance Issues - Environmental regulations, including compliance with sulfur emission limits, may require significant retrofitting of vessels, impacting future performance and cash flows [161]. - The company must adhere to the International Ship and Port Facilities Security Code (ISPS Code), with potential costs and liabilities associated with compliance and certification maintenance [159]. - Climate change regulations may impose additional operational challenges and costs, as countries and organizations adopt frameworks to reduce greenhouse gas emissions from ships [162]. - Compliance with ballast water discharge regulations may require substantial costs for installing treatment systems on vessels [174]. - The U.S. EPA is finalizing national standards for ballast water discharges, which may impose additional compliance costs [175]. Economic and Trade Factors - China's GDP growth rate for the year ended December 31, 2024, was approximately 5.0%, a decrease from 5.2% in 2023, indicating potential economic challenges in the Asia Pacific region [110]. - The U.S. imposed tariffs of 10% on all imported goods from China and 25% on steel and aluminum imports, effective February and March 2025, respectively, which may adversely affect shipping demand [112]. - The implementation of trade protectionism by the U.S. and retaliatory measures from other countries could significantly impact the volume of exported goods and demand for shipping services [113]. Cybersecurity and Operational Risks - The company faces risks related to cybersecurity, as successful cyber-attacks could materially disrupt operations and adversely affect financial results [101]. - The company is exposed to risks from marine accidents, bad weather, and other operational challenges that could impair charterers' ability to make payments, potentially leading to financial losses [141]. Shareholder and Tax Considerations - Future sales of common stock could depress the market price, impacting the company's ability to raise additional capital [193]. - The company may issue additional shares of common stock without shareholder approval, which could dilute existing shareholders' ownership and affect dividend payments [194]. - The ability to pay dividends on Series B Preferred Shares is limited by cash generated from operations, which may fluctuate significantly [197]. - The company believes it qualifies for the Section 883 exemption for U.S. federal income tax for 2022 through 2024, but future compliance is uncertain [204]. - There are potential adverse U.S. federal income tax consequences for U.S. holders due to the company's classification as a "passive foreign investment company" (PFIC) [205].