Global Ship Lease
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Investor Fact Sheet
For Liner Companies
Global Ship Lease owns, operates and provides vessels under long-term charters
Global Ship Lease is a dividend-growing investment vehicle with stable and predictable cash flows
Modern, High Quality Fleet of Diverse Sizes
Provide World-class Service
Executive Management & Directors
Ian Webber, Chief Executive Officer
Susan Cook, Chief Financial Officer
Thomas Lister, Chief Commercial Officer
Michael Gross, Chairman
Howard Boyd, Director
Guy Morel, Director
Angus Frew, Director
Jeff Pribor, Director
Corporate Information
Global Ship Lease, Inc
c/o Global Ship Lease Services Ltd.
10 Greycoat Place, London SW1P 15B, United Kingdom
Phone: +44 20 7960 6030
Fax: +44 20 7960 6012
Web Site: http://globalshiplease.com
Investor Contact: Tyler Wilson, Assistant Vice President, +1 646-673-9701, twilson@igbir.com
Transfer Agent: Mellon Investor Service (800) 851-9677
Independent Auditors: PricewaterhouseCoopers
Safe Harbor Statement
This communication contains forward-looking statements. Forward-looking statements provide Global Ship Lease’s current expectations or forecasts of future events. Forward-looking statements include statements about Global Ship Lease’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 forwardlooking 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 Global Ship Lease cannot assure you that these projections 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.
Who We Are
Global Ship Lease (GSL) is a container ship lessor, publicly traded since 15th August 2008 on the New York Stock Exchange. We commenced operations in December 2007 with a business of owning and chartering out container ships under long-term, fixed rate charters to world class container liner companies.
We currently own 12 vessels and have contracts in place to purchase an additional seven vessels, representing 106% built-in capacity growth. Four are expected to be delivered in December 2008, one in July 2009 and two in the fourth quarter of 2010.
Once all seven vessels have been delivered, Global Ship Lease will have a 19 vessel fleet with $1.8 billion in contracted revenues, total capacity of 74,797 TEU and a weighted average age of 5.9 years. All of the contracted vessels are under long-term charters of between five and 17 years with an average term of approximately 10 years.
Global Ship Lease (GSL) is a container ship lessor, publicly traded since 15th August 2008 on the New York Stock Exchange. We commenced operations in December 2007 with a business of owning and chartering out container ships under long-term, fixed rate charters to world class container liner companies.
We currently own 12 vessels and have contracts in place to purchase an additional seven vessels, representing 106% built-in capacity growth. Four are expected to be delivered in December 2008, one in July 2009 and two in the fourth quarter of 2010.
Once all seven vessels have been delivered, Global Ship Lease will have a 19 vessel fleet with $1.8 billion in contracted revenues, total capacity of 74,797 TEU and a weighted average age of 5.9 years. All of the contracted vessels are under long-term charters of between five and 17 years with an average term of approximately 10 years.
Our Value Proposition
For Liner Companies
Global Ship Lease owns, operates and provides vessels under long-term charters
- Cost-effective means to free up capital and management resources for other strategic needs
- Competitive alternative to direct ownership
Global Ship Lease is a dividend-growing investment vehicle with stable and predictable cash flows
- $1.8 billion in total contracted revenue with 10 year avg. charter term
- 78% built-in revenue growth through the fourth quarter of 2010
- No commodity or fuel price risk
- No exposure to spot market
Investment Highlights
Modern, High Quality Fleet of Diverse Sizes
- Young fleet with average age of 5.9 years end 2010 after contracted deliveries
- Flexible vessel type attractive for charters; able to operate on a variety of trade lanes
- Balanced portfolio of vessel sizes closely mirrors global fleet profile
- Sizable, contracted revenue of $1.8 billion with 10 year avg. charter term
- Predictable cost structure
- Attractive 8 year credit facility pricing - LIBOR + 75 to 110bps (based upon leverage level); debt swapped into fixed rate Attractive Industry Outlook
- Sustainable long-term growth from globalization and expansion of emerging markets
- 10% CAGR demand in containerized trade for past 20 years
- Increasing trend to charter-in capacity by liner companies especially during economic weakness
- Slow streaming increases utilization of vessels given significant fuel cost savings for charters
- 106% fleet capacity (TEU) growth through Q4 2010
- Significant industry order book needs to be financed
- Expanding charter owner in fragmented market
- Considerable financial flexibility to make accretive acquisitions
- Management has diverse, long-standing industry relationships
- CEO Ian Webber (former CFO of CP Ships)
- CFO Susan Cook (former Group Head of Specialized Finance at P&O)
- CCO Thomas Lister (former ship financier at DVB Bank)
- Listed on NYSE on August 15, 2008, following completion of merger agreement with Marathon Acquisition Corp.
- Declared starting dividend of $0.23 per share
- Intend regular quarterly dividends of $0.23 per share
- Acquired two 4,250 TEU new buildings from German interests for delivery late 2010
- Seven to eight year time charters
- Diversified high-quality customer base
- Met strict investment criteria
Our Business Strategy
Provide World-class Service
- Become partner of choice to supply capacity to leading liner companies
- Best in class, competitive provider of chartering services
- Outsourced ship management philosophy to manage risk and diversify choice
- High safety standards and reliable service
- Expand fleet through accretive acquisitions of modern, high quality container ships
- Focus on returns / economics to ensure that acquisitions meet IRR targets and are accretive to distributable cash flow per share
- Double fleet to $2 billion in next 12-18 months
- Focus on long-term charters with staggered maturities
- Broaden customer base by adding high credit-quality charterers
- Maintain a young, diversified fleet with a range of vessel sizes
- Consistently increase distributable cash flow and dividends per share through accretive acquisitions
Executive Management & Directors
Ian Webber, Chief Executive Officer
Susan Cook, Chief Financial Officer
Thomas Lister, Chief Commercial Officer
Michael Gross, Chairman
Howard Boyd, Director
Guy Morel, Director
Angus Frew, Director
Jeff Pribor, Director
Corporate Information
Global Ship Lease, Inc
c/o Global Ship Lease Services Ltd.
10 Greycoat Place, London SW1P 15B, United Kingdom
Phone: +44 20 7960 6030
Fax: +44 20 7960 6012
Web Site: http://globalshiplease.com
Investor Contact: Tyler Wilson, Assistant Vice President, +1 646-673-9701, twilson@igbir.com
Transfer Agent: Mellon Investor Service (800) 851-9677
Independent Auditors: PricewaterhouseCoopers
Safe Harbor Statement
This communication contains forward-looking statements. Forward-looking statements provide Global Ship Lease’s current expectations or forecasts of future events. Forward-looking statements include statements about Global Ship Lease’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 forwardlooking 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 Global Ship Lease cannot assure you that these projections 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.
GSL © 2008