Financial Performance & Contract Coverage - The company added $397 million in contracted revenues in 1H 2025[16, 17, 22], achieving 96% forward contract cover for 2025 and 80% for 2026[16, 17] - Revenue for 1H 2025 was $382.8 million, up from $354.6 million in 1H 2024[17, 29] - Net income for 1H 2025 reached $214.1 million, compared to $175.1 million in 1H 2024[17, 29] - Adjusted EBITDA for 1H 2025 was $266.5 million, an increase from $247.7 million in 1H 2024[17, 29] - Normalized net income for 1H 2025 was $189.4 million, up from $175.7 million in 1H 2024[17, 29] - Contracted revenues as of June 30, 2025, stood at $1.73 billion, with an average remaining contract cover of 2.1 years[22] Capital Allocation & Balance Sheet - The company's annualized dividend increased to $2.10 per share[16, 17, 23, 24], and $57.0 million has been allocated to share buy-backs to date[23, 24] - Gross debt increased to $768.5 million, up from $691.1 million at the end of 2024[29] - Cash reserves totaled $511.1 million, with $430.6 million available for liquidity, covenants, working capital, and fleet renewal[29] - The weighted average debt maturity is 4.9 years, with a cost of 4.18%[29, 70] - The company's average daily break-even rate is $9,366 per vessel[70] Market Dynamics & Fleet - Approximately 74% of global containerized trade volume is in non-Mainlane trades, predominantly served by mid-sized & smaller ships[46, 47] - The overall orderbook for all containerships has a 29.6% orderbook to fleet ratio, while the company's focus segments (2,000 – 9,999 TEU) have a 12.0% orderbook to fleet ratio[64]

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]

Forward contract cover locked in for 93% of 2025 days and 75% of 2026 days Annualized dividend increased to $2.10 per Class A Common Share ATHENS, Greece, May 19, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE: GSL) (the "Company", "Global Ship Lease" or "GSL"), an owner of containerships, announced today its unaudited results for the three months ended March 31, 2025. First Quarter of 2025 Highlights and Other Recent Developments George Youroukos, our Executive Chairman, stated: "While geopolitical ...