Global Ship Lease Announces Annual Meeting of Shareholders

Jul 27, 2021

LONDON, July 27, 2021 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) has scheduled its Annual Meeting of Shareholders for August 5, 2021, at 12:00 p.m. Eastern Time. The record date for determining shareholders entitled to participate at the Annual Meeting was July 13, 2021. Meeting documentation and instructions for voting have been mailed to all shareholders of record.

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. On November 15, 2018, it completed a strategic combination with Poseidon Containers.

As at May 31, 2021, Global Ship Lease owned 49 containerships and had contracted to purchase one more ship. Subsequently, the Company contracted to purchase a further 16 ships. The fully delivered fleet ranges from 1,118 to 11,040 TEU, with a total capacity of 344,650 TEU. 32 ships are Post-Panamax, of which nine are fuel-efficient new-design wide-beam.

The average remaining term of the Company’s charters as at March 31, 2021, to the mid-point of redelivery and including options under the Company’s control, adjusted to include charters agreed and ships acquired or sold, up to May 31, 2021, and thus excluding the 16 vessels subsequently agreed to be acquired, was 2.6 years on a TEU-weighted basis. Contracted revenue on the same basis was $984.3 million. Contracted revenue was $1,134.9 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.1 years.

Investor and Media Contact:
The IGB Group
Bryan Degnan
Leon Berman

Global Ship Lease Inc.