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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
LONDON SW1V 1LW
Tel: 1-646-6739701
Website: www.globalshiplease.com
IR: See website
Key People
George Giouroukos
Executive Chairman of the Board
Thomas A. Lister
Chief Executive Officer
Anastasios Psaropoulos
Chief Financial Officer
George Giannopoulos
Chief Compliance Officer
   
Business Overview
Global Ship Lease, Inc. is a United Kingdom-based containership owner, leasing ships to container shipping companies under industry-standard, fixed-rate time charters. The Company focuses on mid-size Post-Panamax and smaller containerships. As a containership owner, its business is both procyclical with chartered tonnage and counter-cyclical with sale and lease-back structures. The Company owns 68 containerships, ranging from 2,207 to 11,040 TEU, with a combined capacity of 375,406 TEU. 36 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 Alexandra, GSL Effie, GSL Lydia, GSL Sofia, GSL Kalliopi, GSL Grania, GSL Eleni, Mary, Kristina, Katherine, Alexandra, Alexis, Olivia I, CMA CGM Berlioz, Agios Dimitrios, and GSL Christel Elisabeth, among others.
Financial Overview
For the three months ended 31 March 2024, Global Ship Lease Inc revenues increased 13% to $179.6M. Net income applicable to common stockholders increased 24% to $89.5M. Revenues reflect Time charter revenue increase of 14% to $178.1M. Net income benefited from Fair Value Adjustments on Other Assets increase from $2.8M (expense) to $250K (income), Interest income increase from $1.8M to $3.7M (income).