Global Ship Lease Inc Stock Price, News & Analysis

Global Ship Lease (NYSE:GSL) announced that its adjourned Annual Meeting of Shareholders, held on October 7, 2022, did not achieve the required quorum. Consequently, a new record date and meeting date will be established. Shareholders of record as of this new date will receive notice and proxy materials. As of August 30, 2022, the company operates 65 containerships with a total capacity of 342,348 TEU. The average remaining term of charters is 3.1 years, with contracted revenue approximating $2.4 billion.

Global Ship Lease (NYSE:GSL) held its Annual Meeting of Shareholders on September 27, 2022, but had to adjourn due to insufficient quorum. The meeting is rescheduled for October 7, 2022. Key agenda items include the election of two Term II Directors and the ratification of PricewaterhouseCoopers as the independent auditor for the fiscal year ending December 31, 2022. Shareholders of record were informed by mail on August 18, 2022. As of August 30, 2022, Global Ship Lease owns 65 containerships with a capacity totaling 342,348 TEU and has secured $2.4 billion in contracted revenue.

Global Ship Lease, Inc. (NYSE:GSL) announced a cash dividend of $0.546875 per depositary share for its 8.75% Series B Preferred Shares. This dividend is for the period from July 1, 2022 to September 30, 2022 and will be paid on October 3, 2022, to shareholders of record as of September 26, 2022. Global Ship Lease operates a fleet of 65 containerships with a total capacity of 342,348 TEU. The company has a solid chartering framework, with contracted revenue of $2.4 billion and an average remaining charter term of 3.1 years.

Global Ship Lease has announced multi-year forward charters with Hapag-Lloyd for six ECO 6,900 TEU ships, expected to generate a total of $393 million EBITDA over the firm charter period of five years. The vessels' charters will begin between late 2023 and late 2024. This deal marks a significant extension of contracted revenue streams for Global Ship Lease, which has added nearly $920 million in contracted revenues this year alone. The company now operates 65 containerships with a diverse capacity, indicating strong market demand for their fleet.

Global Ship Lease (NYSE:GSL) has announced its Annual Meeting of Shareholders, set for September 27, 2022, at 11:00 a.m. ET. The record date for eligible shareholders is August 2, 2022. Key agenda items include electing two Term II Directors until the 2025 Annual Meeting and ratifying the appointment of PricewaterhouseCoopers S.A. as its independent accounting firm for the fiscal year ending December 31, 2022. The company owns 65 containerships with an aggregate capacity of 342,348 TEU and has contracted revenue of $1.91 billion, with a 2.6-year average remaining charter term.

Global Ship Lease (GSL) reported significant financial growth for Q2 2022, with operating revenue surging to $154.5 million, nearly double the $82.9 million from the previous year. Net income reached $54.5 million, an 81.1% increase compared to $30.1 million in Q2 2021. They declared a dividend of $0.375 per share, payable on September 2, 2022. Adjusted EBITDA was $95.3 million, marking a 92% year-over-year increase. The company maintains a strong financial position with $1.9 billion of contracted revenue for over 2.6 years.

Global Ship Lease (NYSE:GSL) announced it will hold a conference call on August 4, 2022, at 12:00 p.m. ET to discuss its second quarter results for 2022. Financial results for the quarter ending June 30, 2022, will be released before market open on the same day. The company, known for owning and chartering containerships, has a diversified fleet of 65 vessels with a total capacity of 342,348 TEU. It reported a contracted revenue of $1.76 billion, with a weighted average remaining charter term of 2.5 years.

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.