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 reports developments for a containership owner and lessor that owns mid-sized and smaller containerships and charters them to container liner companies under fixed-rate time charters. Company updates commonly address fleet composition, charter coverage, contracted revenue, vessel acquisitions, and exposure to container shipping market conditions.
Recurring news also covers quarterly and annual results, Form 20-F reporting, dividends on Class A common shares and 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares, credit-rating updates, and shareholder meeting matters for the Marshall Islands company listed on the New York Stock Exchange.
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.
Global Ship Lease (NYSE: GSL) announced a partial redemption of its 8.00% Senior Notes due 2024, totaling $28.5 million at a redemption price of 102.00% plus accrued interest. The redemption date is set for April 5, 2022. Following the redemption, approximately $89.02 million of the Notes will remain outstanding. As of March 1, 2022, Global Ship Lease operates a fleet of 65 containerships with a total capacity of 342,348 TEU and has contracted revenue of $1.79 billion, reflecting a weighted average remaining charter term of 2.6 years.
Global Ship Lease (GSL) declared a quarterly dividend of $0.25 per common share and authorized $40.0 million for share repurchases. In 2021, GSL reported operating revenue of $448.0 million, a 58.4% increase from 2020. Net income for the year was $163.2 million, with a normalized EPS of $4.86. The fleet expanded by over 50% via strategic acquisitions, delivering significant increases in contracted revenue. GSL anticipates a 50% dividend increase to $0.375 starting Q1 2022, driven by strong demand in the containership market.
Global Ship Lease (GSL) will announce its fourth quarter and full year 2021 financial results on March 2, 2022, before market open. A conference call to discuss these results is scheduled for the same day at 10:30 a.m. ET. The company currently owns 65 containerships with a total capacity of 342,348 TEU and has a contracted revenue of $1.89 billion, with an average remaining charter term of 2.8 years. Investors can access the call via dial-in or a live webcast on the company’s website.
Global Ship Lease, Inc. (NYSE:GSL) announced a quarterly dividend of $0.25 per share for Q4 2021, payable on March 4, 2022, to shareholders on record by February 22, 2022. The Board of Directors intends to increase the quarterly dividend by 50% to $0.375 starting from Q1 2022. As of January 25, 2022, GSL owns 65 containerships with a total capacity of 342,348 TEU, and reported $1.89 billion in contracted revenue. The company's average charter term stands at 2.8 years.
Global Ship Lease announced a new three-year charter for the Kumasi, a 2,200 TEU vessel, at a daily rate of $38,000, reflecting a 300% increase over its previous rate. This charter is set to commence after the vessel’s drydock in January 2022. Additionally, the company secured refinancing for $219.4 million in debt, extending its maturity from 2024 to 2026 and reducing interest rate exposure. The firm has also implemented a USD LIBOR cap of 0.75% on about half its floating rate debt, further stabilizing its financial position amidst rising rates.
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 October 1 to December 31, 2021. This dividend will be paid on January 3, 2022, to shareholders of record as of December 27, 2021. The company owns 65 containerships with an aggregate capacity of 342,348 TEU and has contracted revenue of approximately $2.1 billion.
Global Ship Lease (GSL) has announced a 50% increase in its quarterly dividend to $0.375 per share, effective Q1 2022, marking a more than threefold rise since January 2021. This decision comes alongside new five-year charters for the Eco 9,115 TEU vessels, Al Khor and Maira XL, expected to generate approximately $206 million in Adjusted EBITDA. The company's total contracted revenue now stands at $1.85 billion. These developments reflect GSL's strategy to secure cash flow in a robust charter market and enhance shareholder value.