Global Ship Lease (NYSE: GSL) adds $413M in newbuild contracts
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Global Ship Lease, Inc. has agreed newbuilding contracts for five additional mid-size, ultra-high-reefer, wide-beam, latest-generation containerships for an aggregate purchase price of approximately $413 million, subject to conditions precedent.
Upon delivery by 2029, these vessels are fixed on multi-year charters with a TEU-weighted average firm term of 8.1 years, expected to generate aggregate Adjusted EBITDA of about $362 million, plus a further $131 million if all charter extension options are exercised, which would add roughly 2.2 years to the average term. Including these ships, the newbuilding orderbook rises to 15 vessels, collectively expected to generate more than $1.0 billion of Adjusted EBITDA over an average TEU-weighted firm charter term of 7.1 years.
The company notes that these best-in-class, fuel-efficient and high-reefer-capacity ships are intended to refresh its aging fleet and extend its cash generation profile. As of March 31, 2026, Global Ship Lease operated 71 vessels with a TEU-weighted average age of 18.2 years and contracted revenue of $2.05 billion to mid-point redelivery, or $2.58 billion including options under charterers’ control.
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Insights
GSL locks in long-term earnings on sizable newbuild spend.
Global Ship Lease is committing approximately $413 million for five latest-generation containerships, all backed by multi-year charters. Management expects around $362 million of Adjusted EBITDA over firm periods and another $131 million if charterers exercise extensions.
This expands the newbuilding orderbook to 15 ships, with projected Adjusted EBITDA above $1.0 billion over a 7.1-year average firm term. The forward charter coverage and option premia, reportedly over 25% higher than initial rates, provide visibility on future cash flows while renewing an older fleet.
The trade-off is higher capital commitments and yard/construction execution risk, while returns ultimately depend on counterparties honoring long-dated contracts. Future disclosures in company filings may detail delivery scheduling, financing mix, and any changes in contracted revenue or fleet age profile.
Key Figures
Newbuild purchase price: $413 million
Expected Adjusted EBITDA (firm terms): $362 million
Additional Adjusted EBITDA with options: $131 million
+5 more
8 metrics
Newbuild purchase price
$413 million
Aggregate price for five containerships
Expected Adjusted EBITDA (firm terms)
$362 million
From five newbuild charters over median firm terms
Additional Adjusted EBITDA with options
$131 million
If all charter extension options are exercised
Newbuild orderbook Adjusted EBITDA
More than $1.0 billion
From 15 vessels over 7.1-year average firm term
Fleet size
71 vessels
As of March 31, 2026
Fleet average age
18.2 years
TEU-weighted, as of March 31, 2026
Contracted revenue (mid-point redelivery)
$2.05 billion
As of March 31, 2026
Contracted revenue including options
$2.58 billion
Including charterers’ options, March 31, 2026
Key Terms
Adjusted EBITDA, newbuilding contracts, TEU-weighted average term, contracted revenue, +2 more
6 terms
Adjusted EBITDA financial
"expected to generate aggregate Adjusted EBITDA of approximately $362 million"
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
"has agreed individual newbuilding contracts for a further five mid-size"
TEU-weighted average term financial
"with a TEU-weighted average term of 8.1 years"
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.
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.
forward-looking statements regulatory
"This press release contains forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
non-U.S. GAAP financial measures financial
"Adjusted EBITDA is a non-U.S. GAAP quantitative measure"
Non-U.S. GAAP financial measures are company-reported numbers that adjust or repackage results prepared under standard U.S. accounting rules to highlight aspects of performance management believes are important. Think of them like a chef presenting a cleaned-up version of a recipe that removes certain ingredients to show a core flavor; they can help investors see trends or cash-generation potential but may omit costs or one-time items, so compare them with GAAP figures for a full picture.
FAQ
What new ships did Global Ship Lease (GSL) order in June 2026?
Global Ship Lease agreed contracts for five new mid-size, ultra-high-reefer, wide-beam containerships. These latest-generation vessels are designed for deployment flexibility, strong refrigerated cargo capacity, and fuel efficiency, and are scheduled for delivery from various shipyards within 2029 under multi-year charter arrangements.
How much will Global Ship Lease spend on the new containership orders?
The five newbuild containerships have an aggregate purchase price of about $413 million. This represents a significant capital investment in modern, fuel-efficient tonnage that is fully backed by multi-year charter contracts, helping the company align long-term cash flows with its fleet renewal strategy.
What earnings does Global Ship Lease expect from the newbuild charters?
The newbuild charters are expected to generate around $362 million of Adjusted EBITDA over firm periods. If all charter extension options are exercised, management projects an additional $131 million, with option-rate levels more than 25% higher than the initial firm charter rates.
How do these orders affect Global Ship Lease’s overall newbuilding orderbook?
These five ships increase the company’s newbuilding orderbook to 15 vessels. Collectively, those 15 vessels are expected to generate more than $1.0 billion of Adjusted EBITDA over an average TEU-weighted firm charter term of 7.1 years, enhancing long-term contracted earnings visibility.
What is Global Ship Lease’s existing fleet size and age profile?
As of March 31, 2026, Global Ship Lease operated a fleet of 71 containerships. The fleet had an average age of 18.2 years on a TEU-weighted basis, highlighting the strategic importance of adding younger, latest-generation vessels to refresh and modernize its asset base.
What contracted revenue does Global Ship Lease report on its existing charters?
As of March 31, 2026, contracted revenue was $2.05 billion to mid-point redelivery. Including options under charterers’ control and latest redelivery dates, contracted revenue rises to $2.58 billion, representing a TEU-weighted average remaining charter term of 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
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 24, 2026, announcing that, subject to certain conditions precedent being satisfied, it has agreed individual newbuilding contracts for five additional 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 24, 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 Additional Newbuilding Orders
ATHENS, Greece, June 24, 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 a further five mid-size, ultra-high-reefer, wide-beam, latest-generation containerships (the “Newbuilds”) for an aggregate purchase price of approximately $413 million. These highly flexible
ships have been designed and specified to ensure a superior fit for existing and anticipated future market needs.
Upon delivery from the respective yards, scheduled to take place within 2029, the Newbuilds are contracted on multi-year charters with a TEU-weighted average term of 8.1 years and at rates expected to
generate aggregate Adjusted EBITDA of approximately $362 million over their respective median firm charter terms, and an additional $131 million if all extension options are exercised by the charterers which would increase the TEU-weighted average
term by approximately 2.2 years. These five Newbuilds bring the Company’s overall newbuilding orderbook to 15 ships, which are collectively expected to generate more than $1.0 billion of Adjusted EBITDA over an average TEU-weighted firm charter
term of 7.1 years.
George Youroukos, Executive Chairman of Global Ship Lease, commented: “As with the 10 ships we announced earlier this month, we believe that these additional five best-in-class vessels are ideally
positioned to serve as the workhorses of the global container shipping fleet for many years to come. The charter extension options, at rates that are over 25% higher than those for the initial firm periods, suggest that the charterers share our
belief in the long-term commercial value and earnings potential of these ships. The needs of the global container trade are becoming ever more complex and variable, lending additional importance to the combination of deployment flexibility,
refrigerated cargo capacity, and fuel efficiency that these ships offer to our liner customers. As some of the existing “cash cows” of the GSL fleet begin to age out, the addition of these new vessels with multi-year charters will not only
materially reduce our average fleet age but also provide us with a substantially extended cash generation runway into the decades ahead.”
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.