Credit agencies back Global Ship Lease (NYSE: GSL) with affirmed ratings and positive outlook
Rhea-AI Filing Summary
Global Ship Lease, Inc. reported the results of its 2026 annual shareholder meeting and recent credit rating actions. Shareholders elected three directors – Michael S. Gross, Menno van Lacum and Alain Wils – to serve until the 2029 annual meeting, ratified PricewaterhouseCoopers S.A. as auditor for 2026, and approved the Company’s Second Amended and Restated Articles of Incorporation.
The Company also highlighted that Moody’s maintained its Ba2 Corporate Family Rating while upgrading the outlook to positive, and KBRA maintained its BB+ corporate rating and BBB/stable investment grade rating for GSL’s 5.69% Senior Secured Notes due 2027. As of March 31, 2026, GSL operated a fleet of 71 containerships with contracted revenue of $2.05 billion, or $2.58 billion including certain charterer options.
Positive
- Credit outlook improvement: Moody’s maintained GSL’s Ba2 Corporate Family Rating and upgraded its outlook to positive, while KBRA affirmed the BBB/stable investment grade rating on the 5.69% Senior Secured Notes due 2027, underscoring strong credit metrics, low leverage and resilient contracted cash flows.
- Long-term revenue visibility: As of March 31, 2026, GSL reported contracted revenue of $2.05 billion, or $2.58 billion including charterer options, with TEU‑weighted average remaining charter terms of 2.6–3.3 years, supporting earnings visibility and balance sheet strength.
Negative
- None.
Insights
Affirmed ratings and a positive outlook signal strengthened credit quality.
Global Ship Lease reported that Moody’s kept its Ba2 Corporate Family Rating but raised the outlook to positive, while KBRA maintained a BB+ corporate rating and BBB/stable rating on the 5.69% Senior Secured Notes due 2027. These actions point to confidence in the company’s current balance sheet.
The agencies referenced strong credit metrics, low leverage, contracted revenue and resilient performance through industry disruptions. They also noted fleet renewal moves such as ordering newbuild vessels on long-term charters and monetizing older assets, alongside a conservative growth strategy.
Over $2.05 billion of contracted revenue as of March 31, 2026 (rising to $2.58 billion including charterer options) and average remaining charter terms of 2.6–3.3 years underpin cash flow visibility, which supports the improved outlook and may influence future funding flexibility.
Key Figures
Contracted revenue (company-controlled options): $2.05 billion
Contracted revenue (including charterer options): $2.58 billion
Average remaining charter term: 2.6 years
+5 more
8 metrics
Contracted revenue (company-controlled options)
$2.05 billion
As of March 31, 2026 on a TEU-weighted basis
Contracted revenue (including charterer options)
$2.58 billion
As of March 31, 2026 with latest redelivery date
Average remaining charter term
2.6 years
TEU‑weighted, company-controlled options, as of March 31, 2026
Average remaining charter term (incl. options)
3.3 years
TEU‑weighted, including charterer options, as of March 31, 2026
Senior Secured Notes coupon
5.69%
Senior Secured Notes due 2027 rated BBB/stable by KBRA
Fleet size
71 vessels
Containership fleet as of March 31, 2026
Wide-beam Post-Panamax ships
41 ships
Subset of fleet as of March 31, 2026
Average fleet age
18.2 years
Age weighted by TEU capacity as of March 31, 2026
Key Terms
Corporate Family Rating, Senior Secured Notes, contracted revenue, Post-Panamax, +1 more
5 terms
Corporate Family Rating financial
"Moody’s Investor Service has maintained its Ba2 Corporate Family Rating"
A corporate family rating is a single credit score assigned to an entire group of related companies that reflects the likelihood the group can meet its financial obligations. It looks at the combined strength of the parent and core subsidiaries rather than any one bond or loan. Investors use it like a household credit score: it helps judge overall default risk, influences borrowing costs and bond prices, and guides decisions about exposure to the whole corporate group.
Senior Secured Notes financial
"affirming the BBB/stable investment grade rating and outlook for GSL’s 5.69% Senior Secured Notes due 2027"
Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.
contracted revenue financial
"Contracted revenue on the same basis was $2.05 billion"
Contracted revenue is the amount of money a business expects to receive because customers have signed binding agreements for goods or services over a set period. For investors it shows how much future cash is already promised, reducing uncertainty about sales — like having customers hand you a schedule of payments in advance — which helps assess growth potential, valuation and risk compared with one-off or uncertain sales.
Post-Panamax technical
"41 ships are wide-beam Post-Panamax"
Post-panamax describes a ship or vessel that is too large to pass through the original locks of the Panama Canal, meaning its width, height, or depth exceeds those historic limits; it’s used as a size class for very large cargo ships. Investors care because these ships face route restrictions, higher port and handling requirements, or transshipment detours—like a truck that can’t fit under a bridge—which affects shipping costs, transit times, freight rates and demand for port and fleet upgrades.
Second Amended and Restated Articles of Incorporation regulatory
"approved the Company’s Second Amended and Restated Articles of Incorporation"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Moody’s and KBRA update Global Ship Lease (GSL) credit ratings?
Moody’s maintained Global Ship Lease’s Ba2 Corporate Family Rating and upgraded its outlook to positive from stable. KBRA maintained the BB+ corporate rating and a stable outlook, and affirmed the BBB/stable investment grade rating on GSL’s 5.69% Senior Secured Notes due 2027.
What factors did rating agencies highlight for Global Ship Lease (GSL)?
The agencies emphasized strong credit metrics, low leverage, and a solid market position in midsized and smaller containerships. They also cited high utilization, significant contracted revenue, resilience through industry disruptions, and a conservative growth strategy including newbuilds on long-term charters and divestment of older assets.
What is Global Ship Lease’s (GSL) fleet size and profile as of March 31, 2026?
Global Ship Lease reported a fleet of 71 containerships as of March 31, 2026, with an average age of 18.2 years on a TEU-weighted basis. Forty-one ships are wide-beam Post-Panamax vessels, reflecting a focus on mid-sized and smaller containerships in its leasing portfolio.
How much contracted revenue does Global Ship Lease (GSL) have locked in?
As of March 31, 2026, contracted revenue was $2.05 billion on a TEU‑weighted basis including options under the company’s control. Including options under charterers’ control and latest redelivery dates, contracted revenue increased to $2.58 billion with a weighted average remaining term of 3.3 years.
What are the average remaining charter terms for Global Ship Lease (GSL)?
As of March 31, 2026, the average remaining charter term to the mid-point of redelivery was 2.6 years on a TEU‑weighted basis, including options under the company’s control. Including charterer-controlled options and latest redelivery dates, the weighted average remaining term extended to 3.3 years.
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
Results of 2026 Annual Meeting of Shareholders
On June 17, 2026, Global Ship Lease, Inc. (the “Company”) held its 2026 Annual Meeting of Shareholders
(the “Meeting”). At the Meeting, the following proposals, which are set forth in more detail in the Company’s Notice of Annual Meeting of Shareholders and Proxy Statement furnished to shareholders on or about April 27, 2026, were approved and adopted:
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1.
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to elect each of Michael S. Gross, Menno van Lacum and Alain Wils, to
serve as Term III Directors until the Company’s 2029 Annual Meeting of Shareholders and until such time as such director’s successor has been duly elected and qualified;
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2.
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to ratify the appointment of PricewaterhouseCoopers S.A. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026; and
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3.
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to approve the Company’s Second Amended and Restated Articles of Incorporation and to authorize the Board of Directors to effect such amendment and restatement by filing the same with the
Registrar of Corporations of the Republic of the Marshall Islands.
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Attached to this report on Form 6-K (this “Report”) as Exhibit 99.1 is a copy of the press release of the Company, dated June 17, 2026,
reporting the results of the Meeting.
Affirmed Credit Ratings and Upgraded Outlook
Attached to this Report as Exhibit 99.2
is a copy of the press release of the Company, dated June 16, 2026, announcing the Company’s affirmed credit ratings and upgraded outlook.
The information contained in this Report (excluding, with respect to Exhibit 99.2, the information contained in any website referenced therein, and the statements attributed to the
Company’s Chief Executive Officer) 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 18, 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:
The IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438
Global Ship Lease Announces Results of 2026 Annual Meeting of Shareholders
ATHENS, Greece, June 17, 2026 – Global Ship Lease, Inc. (NYSE: GSL) (the “Company” or “GSL”) today announced
that its 2026 Annual Meeting of Shareholders was duly held on June 17, 2026 in Athens, Greece (the “Annual Meeting”). At the Annual Meeting, the shareholders of the Company (i) elected each of three directors, Michael S. Gross, Menno van Lacum
and Alain Wils, to serve until the Company’s 2029 Annual Meeting of Shareholders and until such time as his respective successor has been duly elected and qualified, (ii) ratified the appointment of PricewaterhouseCoopers S.A. as the Company’s
independent public accounting firm for the fiscal year ending December 31, 2026, and (iii) approved the Company’s Second Amended and Restated Articles of Incorporation and authorized the Board of Directors to effect such amendment and restatement
by filing the same with the Registrar of Corporations of the Republic of the Marshall Islands.
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.
Safe Harbor Statement
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.
Exhibit 99.2
Investor and Media Contact:
IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438
Global Ship Lease Announces Affirmed Credit Ratings and Upgraded Outlook
Moody’s Maintains Corporate Family Rating and Upgrades Outlook to Positive;
KBRA Maintains Issuer Rating and Outlook, Affirms Investment Grade Rating of Senior Secured Notes
ATHENS, Greece, June 16, 2026 – Global Ship Lease, Inc. (NYSE: GSL) (the “Company” or “GSL”), a containership owner and lessor, announced today recent updates by two leading credit rating agencies.
Moody’s Investor Service (“Moody’s”) has maintained its Ba2 Corporate Family Rating, and upgraded to a positive outlook from a stable outlook. Kroll Bond Rating Agency (“KBRA”) has maintained the Company’s corporate rating at BB+, with a stable
outlook, while also affirming the BBB/stable investment grade rating and outlook for GSL’s 5.69% Senior Secured Notes due 2027.
In affirming the ratings and outlook, the agencies emphasized the Company’s strong credit metrics, low leverage, and solid market position in the containership leasing space, focusing on midsized and
smaller ships for which supply side fundamentals are supportive. The agencies also cited the Company’s strong historical performance and resilience during industry disruptions, and its contracted revenue. In upgrading their outlook, Moody’s
highlighted the positive impact of the Company ordering newbuild vessels, with long-term charters attached, while monetizing older assets and maintaining a strong financial position. Additional key considerations included an experienced management
team, a versatile fleet, high utilization rates, and a conservative growth strategy.
Thomas Lister, Chief Executive Officer of Global Ship Lease, commented: “We are pleased to see our credit ratings affirmed and outlook upgraded by leading credit agencies. We believe these ratings
reflect the significant strength of our fortress balance sheet and charter coverage while also acknowledging the benefits of our decision to order newbuildings with long-term charters attached and to divest some of our older, non-core assets on
attractive terms. Moving forward, we intend to continue to execute on our dynamic capital allocation strategy, pursuing selective and disciplined fleet renewal, returning capital to shareholders, and creating shareholder value throughout the cycle.”
Additional information regarding Global Ship Lease’s credit ratings can be found in the press release dated June 16, 2026 on Moody’s website at moodys.com, and the press release dated June 5, 2026 on KBRA’s website at kbra.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.
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.
Safe Harbor Statement
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 or update any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events.