Global Ship Lease Files its Annual Report for 2022 on Form 20-F

Rhea-AI Summary

Global Ship Lease (NYSE:GSL) has submitted its Annual Report on Form 20-F for the fiscal year ending December 31, 2022. The report, accessible via the company’s website, outlines the fleet's performance and financial health. As of February 28, 2023, GSL owned 65 containerships with a total capacity of 342,348 TEU. The average remaining charter term is 2.7 years, with contracted revenue at $2.09 billion. Including options, total contracted revenue reaches $2.50 billion, with a longer average charter term of 3.5 years. Shareholders can request audited financial statements at no cost.

Positive

• Reported contracted revenue of $2.09 billion, indicating strong charter agreements.
• Average remaining charter term of 2.7 years, ensuring revenue stability.
• Total contracted revenue, including options, is $2.50 billion, extending financial security.

Negative

• None.

LONDON, March 23, 2023 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the "Company") filed its Annual Report on Form 20-F for the year ended December 31, 2022 (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. It was listed on the New York Stock Exchange in August 2008.

As at February 28, 2023, Global Ship Lease owned 65 containerships, ranging from 1,118 to 11,040 TEU, with an aggregate capacity of 342,348 TEU. 32 ships are wide-beam Post-Panamax.

Adjusted to include all charters agreed, up to March 1, 2023, the average remaining term of the Company’s charters as at December 31, 2022, to the mid-point of redelivery, including options under the Company’s control and other than if a redelivery notice has been received, was 2.7 years on a TEU-weighted basis. Contracted revenue on the same basis was $2.09 billion. Contracted revenue was $2.50 billion, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.5 years.

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

FAQ

What is the significance of Global Ship Lease's Form 20-F submitted on March 23, 2023?

The Form 20-F provides detailed financial and operational information for the year ending December 31, 2022, ensuring compliance with SEC regulations.

What is the current fleet size of Global Ship Lease as of February 28, 2023?

Global Ship Lease owns 65 containerships with a total capacity of 342,348 TEU.

What is the average remaining term of charters for Global Ship Lease as reported in the 2022 filing?

The average remaining term of charters is 2.7 years on a TEU-weighted basis.

How much contracted revenue does Global Ship Lease have as of its latest report?

The contracted revenue amounts to $2.09 billion, or $2.50 billion when including options under charterers' control.