Global Ship Lease (NYSE: GSL) inks $917M deal for 10 newbuild ships
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Global Ship Lease, Inc. has agreed newbuilding contracts for 10 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships for an aggregate purchase price of approximately $917 million, subject to conditions precedent being satisfied. Deliveries are scheduled between 4Q 2028 and 1Q 2030.
Upon delivery, all 10 vessels are fixed on multi-year charters with a TEU-weighted average term of 6.7 years, expected to generate aggregate Adjusted EBITDA of about $665 million over their charter lives. The company highlights a strong balance sheet and existing forward charter cover of $2.1 billion spread over 2.6 years as support for these orders.
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Insights
GSL adds 10 contracted newbuilds, locking in long-term EBITDA.
Global Ship Lease has committed to 10 modern containership newbuilds for about $917 million, with deliveries from 4Q 2028 to 1Q 2030. These mid-size, high-reefer, wide-beam vessels target evolving liner demand and replace aging ships in the fleet.
The company has already secured multi-year charters starting at delivery, with a TEU-weighted average term of 6.7 years and expected aggregate Adjusted EBITDA of roughly $665 million. This adds to forward charter cover of $2.1 billion over 2.6 years and contracted revenue of $2.05 billion as of March 31, 2026.
The move increases long-term earnings visibility but also commits substantial capital over several years. Execution will depend on timely yard deliveries and charterers performing as agreed, while the non-U.S. GAAP Adjusted EBITDA metric emphasizes cash-generation potential rather than reported net income.
Key Figures
Newbuild purchase price: $917 million
Newbuild count: 10 ships
Charter EBITDA: $665 million
+5 more
8 metrics
Newbuild purchase price
$917 million
Aggregate price for 10 new containerships
Newbuild count
10 ships
Mid-size, ultra-high-reefer, wide-beam containerships
Charter EBITDA
$665 million
Aggregate Adjusted EBITDA over charter terms for newbuilds
Charter term
6.7 years
TEU-weighted average term of newbuild charters
Forward charter cover
$2.1 billion
Existing forward charter cover over 2.6 years
Contracted revenue (base)
$2.05 billion
TEU-weighted contracted revenue as of March 31, 2026
Contracted revenue (with options)
$2.58 billion
Including options under charterers’ control, 3.3-year term
Fleet size
71 vessels
Fleet count as of March 31, 2026
Key Terms
Adjusted EBITDA, newbuilding contracts, forward charter cover, TEU-weighted average term, +1 more
5 terms
Adjusted EBITDA financial
"expected to generate aggregate Adjusted EBITDA of approximately $665 million over their respective charter terms"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
newbuilding contracts financial
"it has agreed individual newbuilding contracts for 10 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships"
forward charter cover financial
"our stable platform with existing forward charter cover of $2.1 billion spread over 2.6 years"
TEU-weighted average term financial
"with a TEU-weighted average term of 6.7 years and at rates expected to generate aggregate Adjusted EBITDA"
A TEU-weighted average term is the average length of shipping contracts or asset commitments, calculated so that larger container volumes (measured in Twenty-foot Equivalent Units, or TEUs) count more heavily. For investors, it shows how long a carrier’s or operator’s revenue is tied up at current rates and volumes—like averaging course grades but weighting by credit hours—so it indicates revenue visibility, exposure to market swings, and timing risk for rate changes.
non-U.S. GAAP financial
"Adjusted EBITDA is a non-U.S. GAAP quantitative measure used to assist in the assessment of our ability to generate cash"
Non-U.S. GAAP describes financial measures or reporting methods that differ from the accounting rules set by U.S. Generally Accepted Accounting Principles. These alternative figures are often used to highlight particular aspects of performance—like cash flow or adjusted profit—by excluding items that a company considers one-time or non-operational. Investors care because such numbers can make results easier to compare or understand, but they require scrutiny since they can omit costs that affect long-term value.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2026
Commission File Number: 001-34153
GLOBAL SHIP LEASE, INC.
(Translation of registrant’s name into English)
c/o GSL Enterprises Ltd.
9 Irodou Attikou Street
Kifisia, Athens
Greece, 14561
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
Attached to this Report on Form 6-K (this “Report”) as Exhibit 99.1 is a copy of the press release of Global Ship Lease, Inc. (the
“Company”), dated June 4, 2026, announcing that, subject to certain conditions precedent being satisfied, it has agreed individual newbuilding contracts for 10 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships.
The information contained in this Report, except for the commentary of George Youroukos contained in Exhibit 99.1, is hereby incorporated by reference into the Company’s
registration statements on Form F-3 (File Nos. 333-231509 and 333-290461) and on Form S-8 (File Nos. 333-258992, 333-264113 and 333-294357).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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GLOBAL SHIP LEASE, INC.
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(Registrant)
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Dated: June 5, 2026
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By:
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/s/ Thomas Lister
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Thomas Lister
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Chief Executive Officer
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Exhibit 99.1
Investor and Media Contact:
IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438
Global Ship Lease Announces Newbuilding Orders
ATHENS, Greece, June 04, 2026 – Global Ship Lease, Inc. (NYSE:GSL) (the "Company"), a containership owner and lessor, today announced that, subject to certain conditions precedent being met, the
Company has agreed individual newbuilding contracts for 10 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships (the “Newbuilds”) for an aggregate purchase price of approximately $917 million. These highly flexible ships have
been designed and specified to ensure a superior fit for existing and future market needs, with deliveries scheduled to take place between 4Q 2028 and 1Q 2030. Upon delivery from the respective yards, the Newbuilds are contracted on multi-year
charters, with a TEU-weighted average term of 6.7 years and at rates expected to generate aggregate Adjusted EBITDA of approximately $665 million over their respective charter terms.
George Youroukos, Executive Chairman of Global Ship Lease, commented: “We are pleased to have agreed attractive terms for these best-in-class vessels, which we expect to be the workhorses of
global container shipping for many years to come, ensuring that our existing “cash cows” are successfully replaced as they begin to age out. Alongside our continuing efforts to renew our fleet with well-specified, on-the-water vessels, we have
worked hard to ensure that the next generation represented by these newbuilds reflects the evolving needs of our liner customers for maximum flexibility to adapt to changing trade patterns, as well as highly efficient operation. Consistent with our
long-held strategy of mitigating downside risk while unlocking attractive upside potential, we are pleased to have fixed all 10 of the Newbuilds on multi-year charters commencing upon delivery from the yards. Moving on these compelling newbuilding
opportunities is facilitated both by our strong balance sheet and our stable platform with existing forward charter cover of $2.1 billion spread over 2.6 years.”
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.
Our fleet of 71 vessels as of March 31, 2026, had an average age weighted by TEU capacity of 18.2 years. 41 ships are wide-beam Post-Panamax.
As of March 31, 2026, 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 2.6 years on a TEU-weighted basis. Contracted revenue on the same basis was $2.05 billion. Contracted revenue was $2.58 billion, including options under charterers’ control and with latest redelivery date,
representing a weighted average remaining term of 3.3 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.
Reconciliation of Non-U.S. GAAP Financial Measures
Adjusted EBITDA represents net income available to common shareholders before interest income and expense, earnings allocated to preferred shares, depreciation and amortization, gains or losses
on the sale of vessels, amortization of intangible liabilities, charges for share based compensation, fair value adjustment on derivative assets and other financial instruments, income tax, and the effect of the straight lining of time charter
modifications. Adjusted EBITDA is a non-U.S. GAAP quantitative measure used to assist in the assessment of our ability to generate cash from our operations. We believe that the presentation of Adjusted EBITDA is useful to investors because it is
frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. Adjusted EBITDA is not defined in U.S. GAAP and should not be considered to be an alternative to net income or any other
financial metric required by such accounting principles. Our use of Adjusted EBITDA may vary from the use of similarly titled measures by others in our industry.
Adjusted EBITDA is presented herein on a forward-looking basis. We do not provide a reconciliation of such forward looking non-U.S. GAAP financial measure to the most directly comparable U.S.
GAAP measure due to the inherent difficulty in accurately forecasting and quantifying certain amounts necessary for such reconciliation, and we are not able to provide such reconciliation of such forward-looking non-U.S. GAAP financial measure
without unreasonable effort and expense.
FAQ
What did Global Ship Lease (GSL) announce in this Form 6-K?
Global Ship Lease announced agreements for individual newbuilding contracts covering 10 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships. These contracts are subject to certain conditions precedent and represent a strategic fleet renewal with all vessels already fixed on multi-year charters commencing upon delivery from the yards.
What is the total cost of Global Ship Lease’s new containership orders?
The 10 new containerships have a combined aggregate purchase price of approximately $917 million. This represents a substantial multi-year capital commitment aimed at renewing and upgrading Global Ship Lease’s fleet with flexible, latest-generation vessels designed for current and future container trade requirements.
How much EBITDA does Global Ship Lease expect from the newbuild charters?
Global Ship Lease expects the multi-year charters for the 10 newbuild vessels to generate aggregate Adjusted EBITDA of approximately $665 million over their respective charter terms. Adjusted EBITDA is highlighted as a non-U.S. GAAP measure used to assess the company’s ability to generate cash from operations.
When will Global Ship Lease’s newly ordered vessels be delivered?
Deliveries of the 10 newly ordered mid-size containerships are scheduled between the fourth quarter of 2028 and the first quarter of 2030. The multi-year charters begin upon delivery from the respective shipyards, providing long-term employment visibility once each vessel joins the fleet.
What existing charter coverage and contracted revenue does GSL report?
Global Ship Lease reports forward charter cover of $2.1 billion spread over 2.6 years. As of March 31, 2026, contracted revenue was $2.05 billion on a TEU-weighted basis, or $2.58 billion including options under charterers’ control to the latest possible redelivery dates.
How large and how old is Global Ship Lease’s fleet today?
As of March 31, 2026, Global Ship Lease operated a fleet of 71 vessels with an average age, weighted by TEU capacity, of 18.2 years. Of these, 41 ships are wide-beam Post-Panamax, reflecting meaningful exposure to larger mid-sized containership segments within the global fleet.