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Global Ship Lease Inc (N:GSL)

Business Focus: Deep Sea Freight

Sector:  Industrials Industry:  Marine Freight & Logistics
See Regulatory Filings on SEC
Company Contact
Address: 25 Wilton Road
Tel: 1-646-6739701
IR: See website
Key People
George Giouroukos
Executive Chairman of the Board
Ian J. Webber
Chief Executive Officer
Anastasios Psaropoulos
Chief Financial Officer
Thomas A. Lister
Chief Commercial Officer, Head of ESG
Business Overview
Global Ship Lease, Inc. is a United Kingdom-based containership owner that leases ships to container shipping companies under fixed-rate time charters. The Company focuses on mid-size Post-Panamax and smaller containerships. As a containership owner, its business is both pro-cyclical with chartered tonnage and counter-cyclical with sale and lease-back structures. The Company owns approximately 64 containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 341,230 TEU. 32 ships are wide beam Post-Panamax. The mix of ship sizes within its fleet provides flexibility to deploy its vessels on a range of trading routes. Its portfolio of vessels includes CMA CGM Thalassa, ZIM Norfolk, Anthea Y, ZIM Xiamen, MSC Tianjin, MSC Qingdao, GSL Ningbo, GSL Christel Elisabeth, CMA CGM Alcazar, CMA CGM Jamaica, CMA CGM Sambhar, CMA CGM America, Beethoven tbr GSL Chloe, Newyorker, and GSL Maren, among others.
Financial Overview
For the three months ended 31 March 2023, Global Ship Lease Inc revenues increased 4% to $159.3M. Net income applicable to common stockholders increased 7% to $72.2M. Revenues reflect Time charter revenue increase of 11% to $155.9M. Net income benefited from Interest and other finance expenses decrease of 41% to $11.1M (expense), Interest income increase from $250K to $1.8M (income).