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 (NYSE: GSL) announced the full redemption of its 8.00% Senior Notes due 2024, amounting to $89,020,500. The redemption price is set at 102% of the principal, plus accrued interest, effective July 18, 2022. Once completed, there will be no outstanding 2024 Notes, leading to their cessation of trading on the NYSE. The company currently owns 65 containerships, with a total capacity of 342,348 TEU. As of March 31, 2022, contracted revenue stood at $2.00 billion.
Global Ship Lease (NYSE:GSL) announced the closure of a $350 million private offering of 5.69% Senior Secured Notes due 2027. The proceeds will be utilized to pay off remaining debts, including a $236.2 million Senior Secured Loan Facility interest-bearing at LIBOR plus 7.00%. The new notes, secured against a fleet of 20 vessels, are expected to enhance financial flexibility by releasing unencumbered ships and reducing overall debt costs significantly.
Global Ship Lease (NYSE:GSL) has declared a cash dividend of $0.546875 per depositary share, associated with its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares. This dividend pertains to the period from April 1, 2022 to June 30, 2022 and is set for payment on July 1, 2022 to shareholders of record by June 24, 2022. The company operates a fleet of 65 containerships, with a total capacity of 342,348 TEU, and has secured contracted revenue of $1.76 billion.
Global Ship Lease (NYSE:GSL) announced a $350 million offering of 5.69% Senior Secured Notes due 2027, priced on June 1, 2022. Proceeds will primarily repay a Senior Secured Loan Facility of $236.2 million. The notes are secured by mortgages on 20 vessels and guaranteed by GSL. The private placement is exempt from registration under the Securities Act. The closing is expected on June 15, 2022. Goldman Sachs acted as Lead Placement Agent.
Global Ship Lease announced a new multi-year charter for its 8,600 TEU, 2004-built GSL Ningbo, set to commence in July 2023. The charter will generate an annualized EBITDA of approximately $16.6 million, about 3.1 times higher than the previous rate. This agreement reflects strong demand in the charter market and enhances the company’s cash flow visibility. With 65 containerships and contracted revenues of $2 billion, Global Ship Lease continues to pursue long-term, profitable contracts.
Global Ship Lease (NYSE:GSL) announced its investment in Aqualung Carbon Capture, collaborating on a carbon capture initiative for the maritime sector. This partnership aims to retrofit containerized carbon capture units on vessels, addressing the urgent need for decarbonization in shipping. Executive Chairman George Youroukos emphasized the importance of standardization in facilitating the transition to more sustainable shipping practices. As of May 8, 2022, Global Ship Lease operates 65 containerships with a contracted revenue of $1.67 billion, reflecting a commitment to reducing emissions and enhancing competitiveness.
Global Ship Lease (NYSE:GSL) reported strong financial results for Q1 2022, with operating revenue of $153.6 million, a substantial increase from $73.0 million in the prior year. Net income surged to $70.2 million, up 1,571.4% from $4.2 million. The Company declared a dividend of $0.375 per common share, payable on June 2, 2022. Adjusted EBITDA reached $94.5 million, reflecting a year-on-year growth of 113%. GSL also authorized a $40 million share repurchase program and optimized its debt structure, reducing its cost of debt from nearly 8% in 2019 to 4.63% in 2022.
Global Ship Lease (NYSE:GSL) will hold a conference call on May 9, 2022, at 10:30 a.m. ET to discuss its first-quarter results for 2022. The financial results will be released before market open on the same day. Investors can participate via dial-in or a live internet webcast at the company’s website. As of March 1, 2022, GSL owns 65 containerships with a total capacity of 342,348 TEU. The company reported $1.89 billion in contracted revenue, with an average remaining charter term of 2.8 years.
Global Ship Lease (NYSE:GSL) has filed its Annual Report on Form 20-F for the year ending December 31, 2021, with the SEC. The report can be accessed on the company's website. As of March 1, 2022, Global Ship Lease operates 65 containerships with a total capacity of 342,348 TEU, including 32 wide-beam Post-Panamax ships. The average remaining term of contracts is 2.6 years, with contracted revenue of $1.79 billion. Including options for charterers, total contracted revenue stands at $2.04 billion, with a remaining term of 3.3 years.
Global Ship Lease (NYSE:GSL) has declared a cash dividend of $0.546875 per depositary share, for the period from January 1, 2022 to March 31, 2022. The dividend is set for payment on April 1, 2022 to shareholders of record by March 25, 2022. As of March 1, 2022, Global Ship Lease operates a fleet of 65 containerships with a total capacity of 342,348 TEU. The company reported a contracted revenue of $1.79 billion, with a weighted average remaining charter term of 2.6 years.
