Global Ship Lease Files its Annual Report for 2024 on Form 20-F

Rhea-AI Summary

Global Ship Lease (NYSE:GSL), a containership charter owner, has announced the filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (SEC). The company has made the report accessible to shareholders through multiple channels:

- Available on company website under Investor Relations section
- Free hard copies available upon request via email or mail
- Can be requested through IGB Group by phone

ATHENS, Greece, March 18, 2025 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the "Company"), a containership charter owner, filed its Annual Report on Form 20-F for the year ended December 31, 2024 (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 GSL Enterprises Ltd., 9 Irodou Attikou Street, Athens, 145 61, Greece or by telephoning 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.

Our fleet of 71 vessels as of December 31, 2024 had an average age weighted by TEU capacity of 17.6 years. In November 2024, we agreed to purchase the Newly Acquired Vessels. Three were delivered in December 2024 and the fourth in January 2025. In addition, during December 2024 we agreed to sell an older vessel, Tasman (5,936 TEU built 2000), with expected delivery in late March 2025. In February 2025, we agreed to sell two more vessels, Akiteta (2,220 TEU built 2002), which was delivered to her new owners on February 19th, 2025, and Keta (2,207 TEU, built 2003), with expected delivery in March 2025. As of the date of this release, we have 71 vessels with an average age weighted by TEU capacity of 17.5 years. 40 ships are wide-beam Post-Panamax.

As of December 31, 2024, including the last Newly Acquired Vessel, Czech, delivered on January 9, 2025 and all charters agreed during 2024 and through February 28, 2025, the average remaining term of the Company’s charters, to the mid-point of redelivery, including options under the Company’s control and other than if a redelivery notice has been received, was 2.3 years on a TEU-weighted basis. Contracted revenue on the same basis was $1.88 billion. Contracted revenue was $2.37 billion, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 2.9 years.

Forward-Looking Statements 

This press release contains forward-looking statements. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and the Company cannot assure you that the events or expectations included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors described in “Risk Factors” in the Company’s Annual Report on Form 20-F and the factors and risks the Company describes in subsequent reports filed from time to time with the U.S. Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events. 

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

FAQ

Where can I find Global Ship Lease's (GSL) 2024 Annual Report?

GSL's 2024 Annual Report is available on their website under Investor Relations section or can be requested as a hard copy through email, mail, or by calling IGB Group.

How can shareholders request a hard copy of GSL's 2024 financial statements?

Shareholders can request free hard copies by emailing info@globalshiplease.com, writing to GSL's Athens office, or calling IGB Group at +1-646-673-9701.

What period does GSL's latest Form 20-F cover?

The Form 20-F covers the fiscal year ended December 31, 2024.

Is GSL's 2024 Annual Report available free of charge?

Yes, shareholders can obtain hard copies of the audited financial statements free of charge upon request.