Global Ship Lease Files its Annual Report for 2020 on Form 20-F

Rhea-AI Summary

Global Ship Lease (NYSE:GSL) filed its Annual Report on Form 20-F for the year ended December 31, 2020, with the SEC on March 19, 2021. The report reveals that Global Ship Lease owns 43 containerships and has contracts for an additional seven ships, totaling a capacity of 287,336 TEU. As of December 31, 2020, the average remaining charter term was 2.5 years, with contracted revenue reaching $892.5 million, and $1,051.4 million including charter options. Shareholders can access the report and request audited financial statements via the company's website.

Positive

• Contracted revenue of $892.5 million secured.
• Average remaining charter term of 2.5 years enhances revenue stability.
• Acquisition of seven additional ships will increase fleet capacity.

Negative

• None.

LONDON, March 24, 2021 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the "Company") filed its Annual Report on Form 20-F on March 19, 2021 for the year ended December 31, 2020 (the "Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC").

In compliance with the New York Stock Exchange rules, a copy of the Form 20-F can be found under the Investor Relations section (Annual Reports) of the Company's website at http://www.globalshiplease.com. Shareholders may request a hard copy of the audited financial statements free of charge by contacting the Company at info@globalshiplease.com or by writing to Global Ship Lease, Inc., care of Global Ship Lease Services Limited, 25 Wilton Road, London, SW1V 1LW, United Kingdom or by telephoning The IGB Group at +1-646-673-9701.

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.

Global Ship Lease owns 43 containerships, and has contracted to purchase a further seven ships, ranging from 2,207 to 11,040 TEU, 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 3, 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 2.5 years on a TEU-weighted basis. Contracted revenue on the same basis was $892.5 million. Contracted revenue was $1,051.4 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.1 years.

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

FAQ

What is the contracted revenue reported by Global Ship Lease in its Form 20-F?

Global Ship Lease reported a contracted revenue of $892.5 million in its Form 20-F.

How many containerships does Global Ship Lease own?

Global Ship Lease owns 43 containerships as reported in their Annual Report on Form 20-F.

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

The average remaining charter term for Global Ship Lease is 2.5 years as of December 31, 2020.

When was the Annual Report on Form 20-F for Global Ship Lease filed?

The Annual Report on Form 20-F for Global Ship Lease was filed on March 19, 2021.

Where can I find Global Ship Lease's Annual Report?

Global Ship Lease's Annual Report can be found under the Investor Relations section of their website.