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 declared a cash dividend of $0.546875 per depositary share, representing a 1/100th interest in its 8.75% Series B Preferred Shares. This dividend, covering the period from July 1, 2021, to September 30, 2021, will be paid on October 1, 2021 to shareholders on record as of September 24, 2021.
As of August 31, 2021, the company owns 61 containerships and has contracted to purchase 4 more, increasing its fleet to 65 ships with a total capacity of 342,378 TEU.
Global Ship Lease (NYSE:GSL) announced significant share transactions involving its Executive Chairman, George Youroukos. He purchased 521,650 Class A common shares at $19.17 each, increasing his holdings to 6.4% of shares outstanding. The company also repurchased an equal number of shares for retirement, reducing total outstanding shares to 36,216,803. This transaction, conducted through B. Riley Financial, reflects the company's confidence in its strong cash flow and market position. With a robust chartering pipeline and a fleet expansion, GSL aims to enhance shareholder value.
Global Ship Lease (NYSE:GSL) announced an upgrade in its long-term issuer credit rating by S&P Global Ratings from B+ to BB- with a stable outlook. This upgrade reflects the company's increased scale, diversification, and favorable charter rates, along with strong expectations for EBITDA and free cash flow. Executive Chairman George Youroukos emphasized the positive growth trajectory and improvements in the company's financial metrics, indicating a robust market position and long-term strategic growth prospects.
LONDON, Aug. 5, 2021 – Global Ship Lease (NYSE: GSL) announced the election of three Term I Directors, Philippe Lemonnier, Henry Mannix III, and Alain Pitner, during its 2021 Annual Meeting of Shareholders in Athens. These directors will serve until the 2024 Annual Meeting. The appointment of PricewaterhouseCoopers S.A. as the independent public accounting firm for the fiscal year ending December 31, 2021, was also ratified. As of August 5, GSL owns 61 containerships and has contracted to purchase four more, increasing its fleet capacity significantly.
Global Ship Lease (NYSE:GSL) reported strong financial results for Q2 2021, with operating revenue of $82.9 million and net income available to shareholders of $30.1 million. The company declared a $0.25 dividend per common share. Year-to-date, they expanded their fleet by over 50%, adding significant charter contracts valued at approximately $906 million in revenues. Adjusted EBITDA stood at $51.5 million for Q2. Their proactive refinancing has improved the debt service profile, reducing the cost of debt from 6.3% to 5.2%. Moody's upgraded their rating to B1/Stable.
Global Ship Lease (NYSE:GSL) will announce its second quarter 2021 results on August 5, 2021, before the market opens, followed by a conference call at 10:30 a.m. ET. The company owns 49 containerships and has contracted to acquire additional vessels, enhancing its capacity to 344,650 TEU. As of March 31, 2021, the average remaining term of charters was 2.6 years, with contracted revenue of $984.3 million. Interested participants can access the call via dial-in or live webcast on the company's website.
Global Ship Lease (NYSE:GSL) has scheduled its Annual Meeting of Shareholders for August 5, 2021, at 12:00 p.m. ET. The record date for eligible shareholders was July 13, 2021. Documentation and voting instructions have been sent to all shareholders. As of May 31, 2021, Global Ship Lease operates a fleet of 49 containerships with a total capacity of 344,650 TEU, including 32 Post-Panamax vessels. The average remaining charter term is 2.6 years, with contracted revenue of $984.3 million.
Global Ship Lease (GSL) has received a Corporate Family Rating upgrade from B2 to B1 by Moody's, indicating improved credit metrics and a stable outlook. This upgrade is attributed to the company's increased scale, long-term contracted cash flows, and a strong market for container shipping. GSL's balance sheet has improved significantly, with no material debt maturities until 2024, high revenue visibility from long-term charters, and a projected contracted revenue of $984.3 million. The firm also has plans to acquire additional vessels to enhance growth opportunities.
Global Ship Lease announced that CEO Ian Webber will present at Maxim Group's Future of Shipping Virtual Conference on June 29, 2021, at 12:00 pm ET. He will participate in the Containership Demand: Global Supply Chain Ramifications panel. A live webcast is available for registration through the conference website.
Global Ship Lease operates a fleet of 49 containerships and has contracts to purchase 17 more, totaling a capacity of 344,650 TEU. The average remaining charter term is 2.6 years, with contracted revenue of $984.3 million.
Global Ship Lease announced the purchase of four 5,470 TEU Panamax containerships for $148 million, with an expected delivery in Q3 2021. The vessels will be chartered for three years, generating an estimated $124.4 million in Adjusted EBITDA, achieving a Purchase Price / Annual Adjusted EBITDA multiple of 3.6x. With this acquisition, the company's fleet will increase to 66 vessels, enhancing its operational capacity significantly. The deal is expected to contribute $42.5 million in Adjusted EBITDA within the first 12 months and boost earnings per share by 56.4%.
