Global Ship Lease Announces First Quarter 2021 Earnings Release, Conference Call and Webcast

Rhea-AI Summary

Global Ship Lease (NYSE:GSL) announced a conference call to discuss Q1 2021 results on May 10, 2021, at 10:30 a.m. Eastern Time. Financial results for the quarter ending March 31, 2021, will be released before market opening on the same day. The company owns 43 containerships and has contracted to purchase seven additional ships, aiming for a total capacity of 287,336 TEU. As of March 31, 2021, the average remaining charter term was 2.6 years, with contracted revenue of $967.8 million. The live webcast will be available on the company’s website.

Positive

• Global Ship Lease owns 43 containerships, enhancing its market presence.
• Contracted revenue totals $967.8 million, indicating strong financial performance.
• The company has a diversified fleet with a focus on fuel-efficient designs.

Negative

• None.

LONDON, April 30, 2021 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL), a containership charter owner, announced today that it will hold a conference call to discuss the Company’s results for the first quarter 2021 on Monday, May 10, 2021 at 10:30 a.m. Eastern Time. The Company will issue financial results for the first quarter ended March 31, 2021 on Monday, May 10, 2021 before the open of market trading.

What:	First Quarter 2021 Conference Call and Webcast
When:	Monday, May 10, 2021 at 10:30 a.m. Eastern Time
Where:	There are two ways to access the conference call:
	Dial-in: (877) 445-2556 or (908) 982-4670; Passcode: 2098687
	Please dial in at least 10 minutes prior to 10:30 a.m. Eastern Time to ensure a prompt start to the call.
	Live Internet webcast and slide presentation: http://www.globalshiplease.com

If you are unable to participate at this time, a replay of the call will be available through Wednesday, May 26, 2021 at (855) 859-2056 or (404) 537-3406. Enter the code 2098687 to access the audio replay. The webcast will also be archived on the Company’s website:
http://www.globalshiplease.com

About Global Ship Lease

Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. On November 15, 2018, it completed a strategic combination with Poseidon Containers.

At March 31, 2021, Global Ship Lease owned 43 containerships, ranging from 2,207 to 11,040 TEU, and had contracted to purchase seven 6,000 TEU ships, with a total capacity (when fully delivered) of 287,336 TEU. 32 ships are Post-Panamax, of which nine are fuel-efficient new-design wide-beam.

Adjusted to include all charters agreed, and ships acquired or divested, up to March 31, 2021, the average remaining term of the Company’s charters at December 31, 2020, to the mid-point of redelivery, including options under the Company’s control, was 2.6 years on a TEU-weighted basis. Contracted revenue on the same basis was $967.8 million. Contracted revenue was $1,129.5 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.2 years.

Investor and Media Contact:
The IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438

FAQ

When is Global Ship Lease's Q1 2021 results conference call?

The conference call is scheduled for May 10, 2021, at 10:30 a.m. Eastern Time.

What is the contracted revenue for Global Ship Lease as of March 31, 2021?

The contracted revenue is $967.8 million.

How many containerships does Global Ship Lease own?

Global Ship Lease owns 43 containerships.

What is the average remaining charter term for Global Ship Lease's vessels?

The average remaining charter term is 2.6 years.