Global Ship Lease Announces Third Quarter 2024 Earnings Release, Conference Call and Webcast

Rhea-AI Summary

Global Ship Lease (NYSE:GSL) has announced its upcoming third quarter 2024 earnings release and conference call scheduled for Monday, November 11, 2024. The financial results will be released before market opening, followed by a conference call at 10:30 a.m. Eastern Time. As of June 30, 2024, the company owns 68 containerships with an aggregate capacity of 376,723 TEU. The fleet's contracted revenue stands at $1.77 billion with an average remaining charter term of 2.2 years on a TEU-weighted basis. Including charterers' options, contracted revenue reaches $2.13 billion with a 2.8-year weighted average remaining term.

Positive

• Fleet of 68 containerships with 376,723 TEU total capacity
• Secured contracted revenue of $1.77 billion
• Additional potential revenue of $2.13 billion including charterer options

Negative

• Relatively short average remaining charter term of 2.2 years

ATHENS, Greece, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the “Company”), a containership charter owner, announced today that it will hold a conference call to discuss the Company’s results for the third quarter 2024 on Monday, November 11, 2024 at 10:30 a.m. Eastern Time. The Company will issue financial results for the third quarter 2024 on Monday, November 11, 2024 before the open of market trading.

What:	Third Quarter 2024 Conference Call and Webcast
When:	Monday, November 11, 2024 at 10:30 a.m. Eastern Time
Where:	There are two ways to access the conference call:
	Dial-in: (646) 307-1963 or (800) 715-9871; Event ID: 2474206 Please dial in at least 10 minutes prior to 10:30 a.m. Eastern Time to ensure a prompt start to the call.
	Live Internet webcast and slide presentation: http://www.globalshiplease.com
The webcast will be archived on the Company’s website: http://www.globalshiplease.com

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 of June 30, 2024, Global Ship Lease owned 68 containerships ranging from 2,207 to 11,040 TEU, with an aggregate capacity of 376,723 TEU. 36 ships are wide-beam Post-Panamax.

As of June 30, 2024, 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 2.2 years on a TEU-weighted basis. Contracted revenue on the same basis was $1.77 billion. Contracted revenue was $2.13 billion, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 2.8 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:
The IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438

FAQ

When will Global Ship Lease (GSL) release Q3 2024 earnings?

Global Ship Lease will release Q3 2024 earnings on Monday, November 11, 2024, before market opening.

What is Global Ship Lease's (GSL) current contracted revenue as of June 2024?

GSL's contracted revenue is $1.77 billion, or $2.13 billion including charterer options.

How many containerships does Global Ship Lease (GSL) own as of June 2024?

Global Ship Lease owns 68 containerships with an aggregate capacity of 376,723 TEU.

What is the average remaining charter term for Global Ship Lease's (GSL) fleet?

The average remaining charter term is 2.2 years on a TEU-weighted basis, or 2.8 years including charterer options.