Global Ship Lease Inc
NYSE:GSL
Global Ship Lease Inc
Global Ship Lease, Inc. is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. The firm's activity consists of the ownership and chartering out of containerships. The firm owns a fleet of mid-sized and smaller containerships. The firm's fleet consists of 65 containerships, ranging from 1,118 to 11,040 twenty-foot equivalent unit (TEU), with a total capacity of 342,348 TEU and an average age, weighted by TEU capacity, of 13.4 years. 32 ships are Post-Panamax, of which nine are wide beam.
Global Ship Lease, Inc. is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. The firm's activity consists of the ownership and chartering out of containerships. The firm owns a fleet of mid-sized and smaller containerships. The firm's fleet consists of 65 containerships, ranging from 1,118 to 11,040 twenty-foot equivalent unit (TEU), with a total capacity of 342,348 TEU and an average age, weighted by TEU capacity, of 13.4 years. 32 ships are Post-Panamax, of which nine are wide beam.
Strong Backlog: Global Ship Lease reported nearly $2 billion in contracted revenues spanning 2.5 years, with 2025 fully covered, 96% of 2026 covered, and significant coverage already for 2027.
Dividend Growth: The annualized dividend was increased to $2.50 per share, a 19% rise from the last increase and 67% higher than 18 months ago, reflecting growth based on contracted revenue.
Balance Sheet Strength: The company continued to delever, with financial leverage dropping to 0.5x and outstanding debt on track to fall below $700 million by year-end.
Capital Allocation: GSL is maintaining high cash reserves, completing an $85 million refinancing, and managing a $33 million remaining share buyback program.
Favorable Market Dynamics: Demand for midsized and smaller container vessels remains strong due to supply chain inefficiencies and low idle capacity, supporting attractive multiyear charter rates.
Regulatory & Geopolitical Impact: Regulatory deferrals and ongoing trade and geopolitical uncertainties are extending the economic lives of older vessels and increasing demand for flexible ships.
Cost of Debt Reduction: The blended cost of debt has been lowered to 4.34%, down from over 6% in 2020.
