Welcome to our dedicated page for Global Ship Lease news (Ticker: GSL), a resource for investors and traders seeking the latest updates and insights on Global Ship Lease stock.
Global Ship Lease Inc (NYSE: GSL) provides essential maritime transportation solutions through its containership leasing operations. This news hub offers investors and industry observers direct access to official corporate communications and market developments.
Key updates include quarterly earnings disclosures, vessel acquisition announcements, and charter contract renewals. Our curated collection enables stakeholders to track operational milestones, financial performance, and strategic initiatives within the container shipping sector.
Regular updates feature critical business developments such as fleet expansion projects, financing arrangements, and sustainability initiatives. The chronological presentation allows efficient tracking of GSL's progress in maintaining its position as a leading containership lessor.
Bookmark this page for streamlined access to verified information about Global Ship Lease's market activities. Check back regularly to monitor how the company navigates shipping industry dynamics through its disciplined asset management approach.
Global Ship Lease has announced the acquisition of 12 containerships from Borealis Finance for $233.9 million. The vessels, averaging 3,000 TEU each, are already on charter with leading operators. This deal expands Global Ship Lease's fleet to 62 ships, increasing its market position as the eighth largest non-operating owner by TEU capacity. The purchase is projected to contribute approximately $60.5 million in Adjusted EBITDA within the first year, enhancing earnings per share by about 70%. The funding will be sourced through cash, new bank debt, and existing notes.
Global Ship Lease (NYSE:GSL) has declared a cash dividend of $0.546875 per depositary share for its 8.75% Series B Preferred Shares, covering the period from April 1, 2021, to June 30, 2021. This dividend will be payable on July 1, 2021, to all preferred shareholders of record as of June 24, 2021. The company owns a diversified fleet of 49 containerships and has a contracted revenue of $984.3 million from charter agreements.
Global Ship Lease (GSL) reported Q1 2021 operating revenue of $73.0 million, with a net income of $4.2 million, leading to a normalized net income of $17.8 million. The company declared a quarterly dividend of $0.25 per share, more than double the previous $0.12, attributed to fleet growth and successful rechartering. GSL raised $36.6 million through its ATM program and improved its debt profile, reducing its blended cost of debt from 6.4% to 5.5%. The company expects continued profitability due to strong demand growth and limited supply within the containership market.
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.
Global Ship Lease, Inc. (NYSE:GSL) announced the pricing of a secondary offering by shareholders, selling 4.5 million shares at $12.50 each. The Selling Shareholders, KEP VI and KIA VIII, both affiliates of Kelso & Company, along with Maas Capital Investments B.V., will conduct the offering. An additional 675,000 shares may be purchased by underwriters. The company will not receive proceeds from this sale. Jefferies LLC, Deutsche Bank Securities, and Morgan Stanley are managing the offering. GSL's shares are listed on the NYSE.
Global Ship Lease (NYSE:GSL) announced that KEP VI and KIA VIII, affiliates of Kelso & Company, plan to offer Class A common shares in an underwritten public offering. The Selling Shareholders may grant underwriters a 30-day option to purchase an additional 15% of the shares. The Company will not receive proceeds from this sale. Jefferies LLC, Deutsche Bank Securities, and Morgan Stanley are the joint book-running managers for the offering. A prospectus supplement will be filed with the SEC, and the Company's shares are already listed.
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.
The Board of Directors of Global Ship Lease has declared a cash dividend of $0.546875 per depositary share representing a 8.75% Series B Preferred Share. This dividend covers the period from January 1 to March 31, 2021, and will be paid on April 1, 2021, to shareholders on record as of March 25, 2021. As of December 31, 2020, Global Ship Lease has a fleet of 43 containerships and contracted revenue of $1,051.4 million over an average remaining term of 3.1 years.
Global Ship Lease (GSL) reported its Q4 and full-year 2020 results, showcasing operating revenue of $70.0 million for Q4 and $282.8 million for the year. Net income for Q4 was $10.8 million, with normalized net income at $11.3 million. GSL generated $38.8 million in adjusted EBITDA for the quarter and $161.7 million for the year. The company initiated a $0.12 quarterly dividend and raised significant funds through its ATM program. GSL successfully refinanced its 2022 Notes, enhancing its financial flexibility.
Global Ship Lease (NYSE:GSL) has announced a conference call to discuss its financial results for the fourth quarter and full year 2020, scheduled for March 4, 2021, at 10:30 a.m. Eastern Time. The results will be available before market open on the same day. The company owns 43 containerships with a total capacity of 245,280 TEU and an average age of 13.7 years as of December 31, 2020. Contracted revenue stands at $786.7 million, indicating a solid revenue pipeline and strong charter agreements.
