Global Ship Lease, Inc.

Global Ship Lease Announces Syndicated Loan Facility

Global Ship Lease has agreed a $1 billion syndicated loan facility bearing interest at SOFR plus 1.5% with a seven-year duration, arranged through an oversubscribed 8-bank syndicate led by Bank of America. The company will draw the facility in tranches matching deliveries of its 15 announced newbuildings, scheduled from late 2028 through 2030, each of which is already contracted to time-charter employment upon delivery. CFO Tassos Psaropoulos said the 1.5% margin is roughly 550bps below what was available to GSL five years ago, reflecting the transformed balance sheet and supporting further de-risking of the newbuilding program. As of June 30, 2026, GSL's contracted revenue stood at $3.2 billion on a TEU-weighted mid-point basis (up to $4.1 billion including charterers' options), with an average remaining charter term of 3.3 years.

•27d ago

Global Ship Lease Announces Exercise of Newbuild Options

Global Ship Lease exercised options to build two additional mid-size, ultra-high-reefer, wide-beam containerships for approximately $163 million, lifting its newbuilding orderbook to 17 ships. The two vessels are scheduled for delivery in Q4 2029, with charterer discussions underway; the Executive Chairman noted the contract prices were agreed earlier this year and are no longer available for comparably specified 2029-delivery ships. As of June 30, 2026, the company's operating fleet stood at 71 containerships with $3.2 billion in contracted revenue (excluding options), implying a measured, pre-funded expansion of its mid-sized vessel exposure.

•1mo ago

Global Ship Lease Reports Results for the Second Quarter of 2026

Global Ship Lease reported Q2 2026 revenue of $198.7 million, up 3.5% year-over-year, with net income of $89.3 million or $2.48 per share. The company announced a major fleet expansion by ordering 15 mid-size containerships for an aggregate price of $1.33 billion, with initial charters expected to generate over $1.0 billion of Adjusted EBITDA. Contracted revenue increased to $3.2 billion over a 3.3-year duration, providing 100% coverage for 2026, alongside a declared dividend of $0.625 per share and credit rating upgrades.

•3mo ago

Global Ship Lease Announces Additional Newbuilding Orders

Global Ship Lease announced an agreement to purchase five additional containerships for an aggregate price of approximately $413 million, bringing its total orderbook to 15 vessels. The ships are scheduled for delivery in 2029 and are contracted on multi-year charters with a TEU-weighted average term of 8.1 years. These charters are expected to generate aggregate Adjusted EBITDA of approximately $362 million over the firm terms, with an additional $131 million potential if extension options are exercised. The total orderbook is now expected to generate more than $1.0 billion of Adjusted EBITDA over an average firm charter term of 7.1 years. Management emphasized that the new vessels will reduce the fleet's average age and extend the cash generation runway, noting that extension option rates are over 25% higher than initial firm periods.

•4mo ago

Global Ship Lease Announces Affirmed Credit Ratings and Upgraded Outlook

Moody's upgraded Global Ship Lease's corporate outlook to Positive while maintaining its Ba2 Corporate Family Rating, while KBRA maintained the corporate rating at BB+ and affirmed the investment grade BBB rating for the Company's 5.69% Senior Secured Notes due 2027. The ratings actions were driven by strong credit metrics, low leverage, and solid contracted revenue, which totals $2.05 billion on a base basis and $2.58 billion including options. CEO Thomas Lister attributed the positive assessment to the company's 'fortress balance sheet' and strategic moves to order newbuild vessels with long-term charters while divesting older assets.

•4mo ago

Global Ship Lease Announces Newbuilding Orders

Global Ship Lease announced agreements for 10 new containerships at an aggregate purchase price of approximately $917 million. The vessels, scheduled for delivery between 4Q 2028 and 1Q 2030, are already secured on multi-year charters with a TEU-weighted average term of 6.7 years, expected to generate $665 million in Adjusted EBITDA. Executive Chairman George Youroukos noted that the strong balance sheet and existing $2.1 billion in forward charter cover facilitate this strategic fleet renewal.

•5mo ago

Global Ship Lease Reports Results for the First Quarter of 2026

Global Ship Lease reported Q1 2026 operating revenue of $198.1 million, up 3.7% year-over-year, driven by higher charter renewal rates and new vessel additions. The company achieved 100% forward charter coverage for 2026 and 86% for 2027, totaling $2.05 billion in contracted revenues with a weighted average remaining duration of 2.6 years. GAAP EPS was $2.54, down 25% from the prior year due to the absence of $28.5 million in vessel sale gains recorded in Q1 2025; normalized EPS was $2.56, down only 3.4%. Management declared a quarterly dividend of $0.625 per Class A share, maintaining the annualized rate of $2.50, and announced the forward sale of three non-core vessels for $52 million with an expected gain of $25 million.

•5mo ago

Global Ship Lease Declares Quarterly Dividend per Common Share for First Quarter of 2026

Global Ship Lease's Board of Directors declared a dividend of $0.625 per Class A common share for the first quarter of 2026. The dividend is payable on June 3, 2026 to shareholders of record as of May 22, 2026. Boilerplate financials highlight a contracted revenue base of $2.24 billion and a fleet of 71 vessels with a weighted average remaining charter term of 2.7 years.

•5mo ago