0001140361-26-031697 | 6-K | XBRL Viewer

Derivative Assets and other financial instruments (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Assets and Other Financial Instruments [Abstract]

As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset and other financial instruments”.


		June 30, 2026			December 31, 2025
Opening balance	$	5,234		$	20,406
FX Reverse Convertible instruments		33,000			-
FX Reverse Convertible instruments settlements/matured contracts		(12,000	)		-
FX option premium		-			194
Unrealized loss on derivative assets (interest rate caps)		(2,153	)		(10,217	)
Unrealized loss on FX option		-			(197	)
Realized loss on FX Reverse Convertible instruments settlements/matured contracts		59			-
Fair value adjustment on derivative asset (interest rate caps)		(1,113	)		(4,952	)
Fair value adjustment on FX Reverse Convertible instruments		(73	)		-
Closing balance	$	22,954		$	5,234
Less: Current portion of derivative assets (interest rate caps) and other financial instruments		(22,954	)		(5,234	)
Non-current portion of derivative assets (interest rate caps) and other financial instruments	$	-		$	-

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Stock-Based Compensation [Abstract]

Summary of Stock-Based Awards

Stock-based awards since January 1, 2025, are summarized as follows:


	Stock-Based Awards
	Number of Shares
	Number			Weighted Average Fair Value on Grant Date	Actual Fair Value on Vesting Date
Unvested as at January 1, 2025	261,461		$	21.92	n/a
Granted in September 2025	2,375,250			25.55	n/a
Vested in year ended December 31, 2025	(322,364	)		n/a	28.23
Unvested as at December 31, 2025	2,314,347		$	25.55	n/a
Vested in period ended June 30, 2026	(121,806	)		n/a	37.42
Unvested as at June 30, 2026	2,192,541		$	25.55	n/a

Interim Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Interim Unaudited Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net Income available to Class A Common Shareholders	$ 180,737	$ 214,063
Cash Flow Hedge:
Unrealized loss on derivative assets/FX option	(2,153)	(5,960)
Amortization of interest rate cap premium	1,048	1,949
Total Other Comprehensive Loss	(1,105)	(4,011)
Total Comprehensive Income	$ 179,632	$ 210,052

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3A
-Subparagraph (24)(d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

+ Details

Intangible Liabilities - Charter Agreements - Amortization of Intangible Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Dec. 31, 2024
Intangible Liabilities – Charter Agreements [Abstract]
June 30, 2027	$ 25,772
June 30, 2028	25,842
June 30, 2029	25,772
June 30, 2030	18,811
June 30, 2031	246
Total	$ 96,443	$ 90,054	$ 49,431

Intangible Liabilities - Charter Agreements (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Liabilities – Charter Agreements [Abstract]

Schedule of Intangible Liabilities

Intangible Liabilities – Charter Agreements as of June 30, 2026, and December 31, 2025, consisted of the following:


		June 30, 2026			December 31, 2025
Opening balance	$	90,054		$	49,431
Additions ^(*)		19,061			54,109
Amortization		(12,672	)		(13,486	)
Total	$	96,443		$	90,054

(*) During the first quarter of 2025, the charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. During December 2025, the charters of the first two ECO 8,586 TEU Vessels and during January 2026, the charter of the third ECO 8,586 TEU Vessel, resulted in an intangible liability of $38,122 and $19,061, respectively, that was recognized and will be amortized over the remaining useful life of the charters.

Amortization of Intangible Liabilities

The aggregate amortization of the intangible liabilities in each of the 12-month periods up to June 30, 2031, is estimated to be as follows:


		Amount
June 30, 2027	$	25,772
June 30, 2028		25,842
June 30, 2029		25,772
June 30, 2030		18,811
June 30, 2031		246
	$	96,443

Derivative Assets and other financial instruments

6 Months Ended

Jun. 30, 2026

Derivative Assets and Other Financial Instruments [Abstract]

Derivative Assets and other financial instruments

In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106, which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings. The Company receives payments on the caps for any period that the one-month USD LIBOR rate is above the strike rate, which is 0.75%. The termination date of the interest rate cap agreements is November 30, 2026. The premium paid to purchase the interest caps was $7,000, which was paid out of cash on December 22, 2021. The premium is being amortized over the life of the interest rate cap by using the caplet method.

In February 2022, the Company further hedged its exposure to a potential rising interest rate environment by putting in place two USD one-month LIBOR interest rate caps of 0.75% through fourth quarter 2026, on $507,891 of its floating rate debt. The second interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as at June 30, 2026 ($2,831 negative fair value adjustment as at June 30, 2025), was recorded through interim unaudited condensed Consolidated Statement of Income. The premium paid by the Company to purchase the interest rate caps was $15,370, which was paid out of cash on the settlement date. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, the Company has designated only a portion of its outstanding debt (initially $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged. Amount received from interest rate caps for each of the six-month periods ended June 30, 2026, and 2025, was $4,067 and $9,133, respectively.

On April 4, 2024, the Company entered into an FX option to purchase €3,000, with monthly settlements that started on April 11, 2024 and ended on March 13, 2025. The initial value of the excluded component was equal to the option premium of €417 and was recognized in earnings using the amortization approach as per ASC 815-20-25-83A.

In January 2026, the Company entered into a series of FX Reverse Convertible transactions for a total amount of $33,000. These instruments are USD-denominated structured notes with returns linked to the EUR/USD exchange rate. Each instrument has a fixed coupon payable at maturity USD capital protected and is subject to potential principal conversion into EUR if the EUR/USD exchange rate falls below the specified strike. Each instrument is a hybrid financial instrument and an embedded foreign exchange option. The Company has elected the Fair Value Option under ASC 825 for these structured instruments. As of June 30, 2026, $12,000 of the FX Reverse Convertible instruments have matured. Under the fair value option, as of June 30, 2026, the instruments are presented as assets measured at fair value amounting to $20,986 ($nil as of December 31, 2025) in the interim unaudited condensed Consolidated Balance Sheets in the line item “Derivative assets and other financial instruments”. As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset and other financial instruments”.


		June 30, 2026			December 31, 2025
Opening balance	$	5,234		$	20,406
FX Reverse Convertible instruments		33,000			-
FX Reverse Convertible instruments settlements/matured contracts		(12,000	)		-
FX option premium		-			194
Unrealized loss on derivative assets (interest rate caps)		(2,153	)		(10,217	)
Unrealized loss on FX option		-			(197	)
Realized loss on FX Reverse Convertible instruments settlements/matured contracts		59			-
Fair value adjustment on derivative asset (interest rate caps)		(1,113	)		(4,952	)
Fair value adjustment on FX Reverse Convertible instruments		(73	)		-
Closing balance	$	22,954		$	5,234
Less: Current portion of derivative assets (interest rate caps) and other financial instruments		(22,954	)		(5,234	)
Non-current portion of derivative assets (interest rate caps) and other financial instruments	$	-		$	-

The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of June 30, 2026, the interest rate cap notional amount covers ~38% of the outstanding floating debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Vessels in Operation (Details)
$ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Mar. 24, 2025

USD ($)

TEU

Mar. 10, 2025

USD ($)

TEU

Feb. 19, 2025

USD ($)

TEU

Jan. 09, 2025

TEU

May 31, 2025

USD ($)

Dec. 31, 2025

USD ($)

Vessel

TEU

Jun. 30, 2026

USD ($)

Vessel

TEU

Jun. 30, 2025

USD ($)

Dec. 31, 2025

USD ($)

Vessel

Jan. 09, 2026

Vessel

Mar. 31, 2025

Vessel

Jun. 16, 2022

USD ($)

Vessels in Operation [Abstract]

Unpaid capitalized expenses

$ 12,226

$ 12,979

Proceeds from sale of vessel

$ 53,483

Advances for vessels under construction

124,340

$ 0

Impairment loss

$ 0

Number of unencumbered vessels (in Vessel) | Vessel

Advances for Vessels Acquisitions, Vessels under Construction and Other Additions

$ 35,961

$ 129,383

35,961

Sale and Leaseback Agreements [Member]

Vessels in Operation [Abstract]

Number of vessels mortgaged as collateral (in Vessel) | Vessel

Czech [Member]

Vessels in Operation [Abstract]

Vessel capacity (in TEU) | TEU

9,019

^[1]

Dimitris Y [Member]

Vessels in Operation [Abstract]

Aggregate sale price of vessel

$ 35,600

Proceeds from sale of vessel

$ 35,085

Net gain from sale of vessel

$ 17,943

Keta [Member]

Vessels in Operation [Abstract]

Vessel capacity (in TEU) | TEU

2,207

Proceeds from sale of vessel

$ 11,944

Net gain from sale of vessel

$ 7,121

Tasman [Member]

Vessels in Operation [Abstract]

Vessel capacity (in TEU) | TEU

5,936

Proceeds from sale of vessel

$ 30,846

Net gain from sale of vessel

$ 17,929

Akiteta [Member]

Vessels in Operation [Abstract]

Vessel capacity (in TEU) | TEU

2,220

Proceeds from sale of vessel

$ 10,693

Net gain from sale of vessel

$ 3,279

Fourth High Reefer Vessels [Member]

Vessels in Operation [Abstract]

Advance payment for vessel acquisition

30,200

Vessels under Construction

124,340

Advances for Vessels Acquisitions, Vessels under Construction and Other Additions

$ 5,761

$ 5,043

$ 5,761

Senior Secured Notes 2027 [Member]

Vessels in Operation [Abstract]

Numbers of vessels released as collateral (in Vessel) | Vessel

Face amount

$ 350,000

Stated interest rate

5.69%

Number of vessels mortgaged as collateral (in Vessel) | Vessel

Vessels Purchase Agreement [Member] | Three Eco 8,586 TEU Vessels [Member]

Vessels in Operation [Abstract]

Vessel capacity (in TEU) | TEU

8,586

Number of newbuilding vessels to be purchased (in Vessel) | Vessel

Other Commitment

$ 90,000

Number of vessels delivered (in Vessel) | Vessel

Vessels Purchase Agreement [Member] | New Fifteen Vessels [Member]

Vessels in Operation [Abstract]

Other Commitment

$ 1,329,863

Number of vessels under construction (in Vessel) | Vessel

Vessels Sale Agreement [Member] | Ian H, Manet, Kumasi, and Julie [Member]

Vessels in Operation [Abstract]

Number of vessels to be sold (in Vessel) | Vessel

Aggregate sale price of vessel

$ 65,500

[1]	The charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition.

Interim Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2026	Dec. 31, 2025
Common Class A [Member]
Common shares, shares authorized (in Shares)	214,000,000	214,000,000
Common shares, par value (in Dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in Shares)	36,035,434	35,913,628
Common shares, shares outstanding (in Shares)	36,035,434	35,913,628
Series B Preferred Stock [Member]
Preferred shares, shares authorized (in Shares)	104,000	104,000
Preferred shares, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares issued (in Shares)	43,592	43,592
Preferred shares, shares outstanding (in Shares)	43,592	43,592

Interim Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity (Parentheticals) - $ / shares	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025	Jun. 30, 2025	Mar. 31, 2025
Class A Common Shares [Member]
Common shares, par value (in Dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Series B Preferred Shares [Member]
Preferred shares, par value (in Dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01

Interim Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 388,599	$ 273,876
Time deposits	110,450	199,100
Restricted cash	51,326	50,520
Accounts receivable, net	50,500	49,887
Inventories	22,357	14,600
Prepaid expenses and other current assets	20,483	33,623
Derivative assets and other financial instruments	22,954	5,234
Due from related parties	$ 1,309	$ 148
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Total current assets	$ 667,978	$ 626,988
NON - CURRENT ASSETS
Vessels in operation	1,966,440	1,962,888
Advances for vessels acquisitions, vessels under construction and other additions	129,383	35,961
Deferred dry dock and special survey costs, net	111,766	110,936
Other non-current assets	8,565	10,830
Restricted cash and other instruments, net of current portion	98,664	113,600
Total non - current assets	2,314,818	2,234,215
TOTAL ASSETS	2,982,796	2,861,203
CURRENT LIABILITIES
Accounts payable	71,639	61,912
Accrued liabilities	41,637	47,727
Current portion of long - term debt	154,504	147,567
Current portion of deferred revenue	45,482	48,885
Due to related parties	$ 740	$ 692
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Total current liabilities	$ 314,002	$ 306,783
LONG - TERM LIABILITIES
Long - term debt, net of current portion and deferred financing costs	517,260	541,575
Intangible liabilities - charter agreements	96,443	90,054
Deferred revenue, net of current portion	108,383	121,707
Total non - current liabilities	722,086	753,336
Total liabilities	1,036,088	1,060,119
Commitments and Contingencies
SHAREHOLDERS' EQUITY
Class A common shares – authorized 214,000,000 shares with a $0.01 par value 36,035,434 shares issued and outstanding (2025 - 35,913,628 shares)	360	359
Series B Preferred Shares – authorized 104,000 shares with a $0.01 par value 43,592 shares issued and outstanding (2025 - 43,592 shares)	0	0
Additional paid in capital	705,328	694,331
Retained Earnings	1,240,348	1,104,617
Accumulated other comprehensive income	672	1,777
Total shareholders' equity	1,946,708	1,801,084
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,982,796	$ 2,861,203

Stock-Based Compensation

6 Months Ended

Jun. 30, 2026

Stock-Based Compensation [Abstract]

Stock-Based Compensation

11.

Stock-Based Compensation

On February 4, 2019, the Board of Directors adopted the Equity Incentive Plan.

The purpose of the Equity Incentive Plan is to provide directors, officers and employees, whose initiative and efforts are deemed to be important to the successful conduct of our business, with incentives to (a) enter into and remain in the service of the Company or its subsidiaries and affiliates, (b) acquire a proprietary interest in the success of the Company, (c) maximize their performance and (d) enhance the long-term performance of the Company. The Equity Incentive Plan is administered by the Compensation Committee of the Board of Directors, or such other committee of the Board of Directors as may be designated by them. Unless terminated earlier by the Board of Directors, the Equity Incentive Plan expires 10 years from the date on which it was adopted.

On September 29, 2021, the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the Equity Incentive Plan by 1,600,000 to 3,412,500 and approved an increase to the maximum number of Class A common shares that each non-executive director may be granted in any one year to 25,000. In addition, with effect from October 1, 2021, the Board of Directors approved awards under the Equity Incentive Plan of (a) up to an aggregate of 1,500,000 Class A common shares to members of senior management, and (b) up to an aggregate of 105,000 Class A common shares to the Company’s non-executive directors (representing an award of up to 15,000 Class A common shares to each such director) (collectively, the “Initial 2021 Incentive Awards”). The Initial 2021 Incentive Awards were subject to the satisfaction of certain service-based and performance-based vesting criteria.

During the year ended December 31, 2022, the Board of Directors approved an award of 13,780 Class A common shares to a non-executive director who was appointed subsequent to the Initial 2021 Incentive Awards, to vest in a similar manner to the Initial 2021 Incentive Awards, adjusted for the date of appointment of the director. During the year ended December 31, 2024, the Board of Directors approved an award to a non-executive director who was appointed subsequent to the Initial 2021 Incentive Awards, amounting to 4,884 Class A common shares which vested and were issued immediately, and 8,311 Class A common shares, which were scheduled to vest in a similar manner to the Initial 2021 Incentive Awards, adjusted for the date of appointment of the director. These awards together with the Initial 2021 Incentive Awards are collectively referred to as the “2021 Incentive Awards.”

In March 2024, as a result of the transition of the Company’s Chief Executive Officer (“CEO”), the Board of Directors approved new awards of (i) 6,465 Class A common shares to a newly appointed non-executive director and (ii) 51,750 Class A common shares, to the newly appointed CEO, in each case, scheduled to vest in a similar manner to the 2021 Incentive Awards, adjusted for the dates of appointment. Further, 155,250 unvested Class A common shares were forfeited during the first quarter of 2024, due to retirement of the former CEO.

During the years ended December 31, 2025, 2024, 2023, 2022 and 2021, 261,461, 535,912, 399,727, 218,366 and 55,175 Class A common shares vested, respectively, pursuant to the 2021 Incentive Awards. An aggregate of 1,470,641 Class A common shares under the 2021 Incentive Awards vested and were issued by December 31, 2025. Of the total Class A common shares which vested under the 2021 Incentive Awards up to December 31, 2025, and December 31, 2024, nil and 204,797, respectively, had not been issued.

Effective September 25, 2025, the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the Equity Incentive Plan by 2,430,000 shares. Effective October 1, 2025, the Board of Directors approved new awards of Class A common shares, with each such award having a term of 3.25 years (ending December 31, 2028) (the “Term”) (such awards, the “2025 Incentive Awards”).

The 2025 Incentive Awards are divided into three tranches: (i) a service tranche, which vests quarterly, pro rata, during the Term, conditioned only on the recipient’s continued service (“Service Tranche”), (ii) a performance tranche, which is earned upon the Company’s achievement of a specified annualized return on equity that is measured on each of December 31 of 2026, 2027 and 2028, after which, such shares are notionally divided into a number of quarterly installments within the Term and are eligible to vest on this basis (“Performance Tranche”), and (iii) a moonshot tranche, which is measured and will vest at the end of the Term based on the achievement of a specified return on equity over the full Term (“Moonshot Tranche”). The Performance Tranche payout thresholds are (a) below 13% return on equity: no payout, (b) 13%-15% return on equity: 50% payout, (c) 15% return on equity: 100% payout (target), and (d) Moonshot 30% return on equity: 100% payout.

Of the 2025 Incentive Awards, (a) members of senior management were awarded an aggregate of up to 2,195,250 Class A common shares (comprising a Service Tranche of 731,750 shares, a Performance Tranche of 731,750 shares, and a Moonshot Tranche of 731,750 shares), (b) each non-executive director of the Company was awarded up to 22,500 shares (comprising a Service Tranche of 7,500 shares, a Performance Tranche of 7,500 shares, and a Moonshot Tranche of 7,500 shares), and (c) other new awards were made in an aggregate amount of up to 54,750 Class A common shares (comprising a Service Tranche of 18,250 shares, a Performance Tranche of 18,250 shares, and a Moonshot Tranche of 18,250 shares).

For the six months ended June 30, 2026 and year ended December 31, 2025, a total of 121,806 and 60,903, respectively, Class A common shares vested under the 2025 Incentive Awards.

Stock-based awards since January 1, 2025, are summarized as follows:


	Stock-Based Awards
	Number of Shares
	Number			Weighted Average Fair Value on Grant Date	Actual Fair Value on Vesting Date
Unvested as at January 1, 2025	261,461		$	21.92	n/a
Granted in September 2025	2,375,250			25.55	n/a
Vested in year ended December 31, 2025	(322,364	)		n/a	28.23
Unvested as at December 31, 2025	2,314,347		$	25.55	n/a
Vested in period ended June 30, 2026	(121,806	)		n/a	37.42
Unvested as at June 30, 2026	2,192,541		$	25.55	n/a

Using the graded vesting method of expensing the incentive stock awards, the weighted average fair value of the stock awards is recognized as compensation costs in the interim unaudited condensed Consolidated Statements of Income over the vesting period. The fair value of the incentive stock awards for time-vesting and performance-based awards is calculated by multiplying the number of stock awards by the fair value of the shares at the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants.

The Company’s performance-based compensation expenses are calculated based on the valuation at the grant date and recognized based on the probability of achieving those targets. The Company assesses the probability of the performance targets being achieved at each balance sheet date, and expenses are recognized accordingly.

For the six months ended June 30, 2026, and 2025, the Company recognized a total of $10,998 and $4,244, in respect of stock-based compensation.

Derivative Assets and other financial instruments (Details) € in Thousands, $ in Thousands			6 Months Ended		12 Months Ended
	Apr. 04, 2024 EUR (€)	Feb. 28, 2022 USD ($) DerivativeInstruments	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2021 USD ($)	Dec. 22, 2021 USD ($)
Derivative Assets and Other Financial Instruments [Abstract]
Premium paid			$ 0		$ 194
Fair value adjustment on derivative asset (interest rate caps)			(1,113)	$ (2,831)	(4,952)
Gain (loss) on interest rate			4,067	9,133
Amount of foreign exchange reverse convertible transactions			33,000		0
Amount of matured foreign exchange reverse convertible transactions			(12,000)		0
Fair value adjustment on FX Reserve Convertible instruments			$ (73)	0	0
Percentage of interest rate cap notional amount			38.00%
Interest Rate Cap [Member]
Derivative Assets and Other Financial Instruments [Abstract]
Term of variable rate			1 month
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		LIBOR [Member]	SOFR [Member]
Strike rate			0.64%
Fair value adjustment on derivative asset (interest rate caps)			$ (1,113)	(2,831)
Gain (loss) on interest rate			4,067	$ 9,133
FX Option [Member]
Derivative Assets and Other Financial Instruments [Abstract]
Derivative notional amount \| €	€ 3,000
Derivative, excluded component, gain (loss), recognized in earnings (in Euro) \| €	€ 417
Assets measured at fair value amount			$ 20,986		$ 0
Designated As Hedging Instrument [Member] \| Interest Rate Cap [Member]
Derivative Assets and Other Financial Instruments [Abstract]
Derivative notional amount		$ 253,946				$ 484,106
Term of variable rate						1 month
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]						LIBOR [Member]
Strike rate						0.75%
Premium paid							$ 7,000
Not Designated as Hedging Instrument [Member] \| Interest Rate Cap [Member]
Derivative Assets and Other Financial Instruments [Abstract]
Derivative notional amount		$ 507,891
Term of variable rate		1 month
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		LIBOR [Member]
Strike rate		0.75%
Premium paid		$ 15,370
Number of interest rate caps (in DerivativeInstruments) \| DerivativeInstruments		2

Vessels in Operation - Schedule of Vessels in Operation (Details) - Vessels [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Vessels in Operation [Abstract]
Vessel Cost, Balance beginning of period	$ 2,431,058	$ 2,288,855
Accumulated Depreciation, Balance beginning of period	(468,170)	(404,215)
Net Book Value, Balance beginning of period	1,962,888	1,884,640
Vessel Cost, Additions	53,279	203,314
Net Book Value, Additions	53,279	203,314
Accumulated Depreciation, Depreciation	(49,727)	(91,906)
Net Book Value, Depreciation	(49,727)	(91,906)
Vessel Cost, Disposals		(61,111)
Net Book Value, Disposals		27,951
Accumulated Depreciation, Disposals		(33,160)
Vessel Cost, Balance ending of period	2,484,337	2,431,058
Accumulated Depreciation, Balance ending of period	(517,897)	(468,170)
Net Book Value, Balance ending of period	$ 1,966,440	$ 1,962,888

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2026
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Ship Management Agreements Technomar Shipping Inc. (“Technomar”) is presented as a related party, as the Company’s Executive Chairman is a significant shareholder. Technomar provides technical management services for all of the Company’s vessels pursuant to technical management agreements. Technomar is responsible for all day-to-day ship management, including crewing, purchasing stores, lubricating oils and spare parts, paying wages, pensions and insurance for the crew, and organizing other ship operating necessities, including monitoring and reporting with respect to European Union Emission Trading System (“EU ETS”) compliance, EU Allowances (“EUAs”), Fuel EU Maritime (“FEUM”) compliance, and the arrangement and management of dry-docking. The Company has agreed to pay Technomar Euro 850 per day, plus an additional fee of Euro 20.55 per day to cover EU ETS services and FEUM Services. Furthermore, Technomar will provide certain construction supervision services for the Company’s newbuilding vessels for an additional fee of Euro 104,000 per newbuilding vessel, which will be payable in two installments to Technomar over the construction period for each such vessel. The management fees charged to the Company by Technomar for the six months ended June 30, 2026, amounted to $12,989 (six months ended June 30, 2025 - $11,466) and are shown under “Vessel operating expenses” in the interim unaudited condensed Consolidated Statements of Income. Additionally, as of June 30, 2026, outstanding receivables due from Technomar totaling $1,309 are presented under “Due from related parties” (December 31, 2025 - $148). Conchart provides commercial management services for all of the Company’s vessels pursuant to commercial management agreements. The Company’s Executive Chairman is the sole beneficial owner of Conchart. Under the commercial management agreements, Conchart is primarily responsible for (i) marketing of the Company’s vessels, (ii) seeking and negotiating employment of the Company’s vessels, (iii) advising the Company on market developments and developments of new rules and regulations, (iv) assisting in calculation of hires, freights, demurrage and/or dispatch monies and collection any sums related to the operation of vessels, (v) communicating with agents, and (vi) negotiating sale and purchase transactions. The Company has agreed to pay Conchart a commission fee of 1.25% on all monies earned under each fixture, subject to certain exceptions. The fees charged to the Company by Conchart for the six months ended June 30, 2026, amounted to $4,477 (six months ended June 30, 2025: $3,719) and are disclosed within “Time charter and voyage expenses” in the interim unaudited condensed Consolidated Statements of Income. Any outstanding fees due to Conchart are presented in the interim unaudited condensed Consolidated Balance Sheets under "Due to related parties" totaling to $740 and $692 as of June 30, 2026, and December 31, 2025, respectively. In addition, the Company, as per the commercial management agreements, has agreed to pay Conchart in connection with the sale or purchase of vessels (including the acquisition of a vessel pursuant to a newbuilding contract, or the disposition of a vessel through the transfer, assignment, or novation of a newbuilding contract), a commission of 1.00% based on the sale or purchase price, as applicable, for any sale or purchase of a vessel, which shall be payable upon request of the commercial manager. The amount of $9,776 as of June 30, 2026 ($9,476 as of December 31, 2025), reflects commission payable to the commercial manager based on the purchase price of already acquired vessels that has been deferred and will be paid upon request of the commercial manager, is presented in the interim unaudited condensed Consolidated Balance Sheets under "Accrued Liabilities".

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(7)(e)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Related Party Transactions (Details) - Related Party [Member] $ in Thousands	6 Months Ended			12 Months Ended
	Jun. 30, 2026 USD ($) Installment € / d	Jun. 30, 2026 EUR (€) Installment € / d	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Technical Management Agreement [Member] \| Technomar [Member]
Related Party Transactions [Abstract]
Related Party Transaction Daily Management Fees (in Euro per Day) \| € / d	850	850
Management fees for EU ETS and FEUM Services per day (in Euro per Day) \| € / d	20.55	20.55
Newbuilding vessels monitoring fee (in Euro) \| €		€ 104,000
Number of payment installments for newbuilding vessel minitoring fee (in Installment) \| Installment	2	2
Management fees	$ 12,989		$ 11,466
Due from related parties	$ 1,309			$ 148
Commercial Management Agreement [Member] \| Conchart [Member]
Related Party Transactions [Abstract]
Management commission fee percentage for charting and other commercial services	1.25%	1.25%
Time charter and voyage expenses-related parties	$ 4,477		$ 3,719
Due to related parties	$ 740			692
Broker fee commission percentage	1.00%	1.00%
Commission fee payable	$ 9,776			$ 9,476

Long-Term Debt - Macquarie Credit Facility (Details) $ in Thousands							3 Months Ended	6 Months Ended
	Apr. 03, 2025 USD ($)	Mar. 28, 2025 USD ($)	Sep. 11, 2024 USD ($)	Sep. 10, 2024 USD ($)	May 18, 2023 USD ($) Vessel TEU Installment	Dec. 30, 2021 USD ($) Installment Tranche	Jun. 30, 2023 Tranche	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2021 Vessel	Nov. 15, 2018 Vessel
Long-Term Debt [Abstract]
Number of vessels purchased (in Vessel) \| Vessel											23	20
Prepayment of debt, amount								$ 0	$ 70,393
Outstanding balance								481,625		$ 490,375
HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility [Member]
Long-Term Debt [Abstract]
Prepayment of debt, amount	$ 46,818
Macquarie Bank Limited Credit Facility [Member]
Long-Term Debt [Abstract]
Face amount					$ 76,000
Number of vessels purchased (in Vessel) \| Vessel					4
Vessel capacity in TEUs (in TEU) \| TEU					8,544
Aggregate purchase price					$ 123,300
Number of tranches drawn (in Tranche) \| Tranche							4
Maturity date					May 31, 2026
Balloon payment					$ 25,000
Balloon payment payable term					3 years
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]					SOFR [Member]
Margin on variable rate					3.50%
Prepayment of debt, amount	$ 17,500			$ 18,500
Prepayment fee on repayment of debt								175
Outstanding balance								$ 0
Macquarie Bank Limited Credit Facility [Member] \| Debt Redemption Period, One [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment					2
Periodic installment payment					$ 5,000
Frequency of periodic payment								quarterly
Macquarie Bank Limited Credit Facility [Member] \| Debt Redemption Period, Two [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment					6
Periodic installment payment					$ 6,000
Frequency of periodic payment								quarterly
Macquarie Bank Limited Credit Facility [Member] \| Debt Redemption Period, Three [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment					1
Periodic installment payment					$ 3,000
Frequency of periodic payment								quarterly
Macquarie Bank Limited Credit Facility [Member] \| Debt Redemption Period, Four [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment					2
Periodic installment payment					$ 1,000
Frequency of periodic payment								quarterly
E.SUN, MICB, Cathay, Taishin Credit Facility [Member]
Long-Term Debt [Abstract]
Face amount						$ 60,000
Number of tranches drawn (in Tranche) \| Tranche						3
Maturity date			Jul. 31, 2026
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]						SOFR [Member]
Margin on variable rate						2.75%
Prepayment of debt, amount		$ 5,900	$ 8,500
Outstanding balance								$ 0
E.SUN, MICB, Cathay, Taishin Credit Facility [Member] \| Debt Redemption Period, One [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment						8
Periodic installment payment						$ 4,500
Frequency of periodic payment								quarterly
E.SUN, MICB, Cathay, Taishin Credit Facility [Member] \| Debt Redemption Period, Two [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment						10
Periodic installment payment						$ 2,400
Frequency of periodic payment								quarterly

Long-Term Debt - $55,500 BofA Credit Facility (Details)			3 Months Ended	6 Months Ended
Long-Term Debt - $55,500 BofA Credit Facility (Details)	Jun. 18, 2026 USD ($)	Jun. 17, 2026 USD ($) Installment	Dec. 31, 2025 USD ($) Vessel TEU	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jan. 09, 2026 Vessel
Long-Term Debt [Abstract]
Proceeds from drawdown of credit facilities				$ 55,500,000	$ 218,500,000
Outstanding balance			$ 490,375,000	$ 481,625,000
BofA Credit Facility [Member]
Long-Term Debt [Abstract]
Face amount		$ 55,500,000
Number of payment installments (in Installment) \| Installment		20
Frequency of periodic payment				quarterly
Periodic installment payment		$ 1,734,400
Balloon payment		$ 20,812,000
Maturity date		Jun. 30, 2031
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		SOFR [Member]
Margin on variable rate		1.40%
Proceeds from drawdown of credit facilities	$ 55,167,000
Facility fee	$ 333,000
Outstanding balance			$ 0	$ 55,500,000
Vessels Purchase Agreement [Member] \| BofA Credit Facility [Member]
Long-Term Debt [Abstract]
Number of newbuilding vessels to be purchased (in Vessel) \| Vessel			3
Vessel capacity in TEUs (in TEU) \| TEU			8,586
Number of vessels delivered (in Vessel) \| Vessel			2			1

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2026
Document Information Line Items
Document Type	6-K
Entity Registrant Name	GLOBAL SHIP LEASE, INC.
Entity Central Index Key	0001430725
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Current Fiscal Year End Date	--12-31

Long-Term Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Long-Term Debt [Abstract]
June 30, 2027	$ 154,504
June 30, 2028	222,008
June 30, 2029	54,738
June 30, 2030	46,738
June 30, 2031	107,550
June 30, 2032 and thereafter	90,887
Total borrowings	$ 676,425	$ 694,709

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-4

+ Details

Summary of Significant Accounting Policies and Disclosures

6 Months Ended

Jun. 30, 2026

Summary of Significant Accounting Policies and Disclosures [Abstract]

Summary of Significant Accounting Policies and Disclosures

(a)

Basis of Presentation

The accompanying financial information is unaudited and reflects all adjustments, consisting solely of normal recurring adjustments, which, in the opinion of management, are necessary for a fair statement of financial position and results of operations for the periods presented. The financial information does not include all disclosures required under United States Generally Accepted Accounting Principles (“U.S. GAAP”) for annual financial statements. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements as of December 31, 2025, filed with the Securities and Exchange Commission on March 16, 2026 in the Company’s Annual Report on Form 20-F.

(b)

Principles of Consolidation

The accompanying interim unaudited condensed consolidated financial information include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other interests. All significant intercompany balances and transactions have been eliminated in the Company’s interim unaudited condensed consolidated financial statements.

(c)

Use of estimates

The preparation of interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions.

(d)

Vessels in operation

Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at Note 2(f) below. Vessels under construction by the Company are stated at historical cost, comprising the contract price and pre-delivery expenses e.g. capitalised interest, and material acquisition-related costs, including improvements and other expenses. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger.

Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels.

Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was no capitalized interest for the six months ended June 30, 2026, and 2025.

Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the straight-line method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be 30 years from original delivery by the shipyard.

Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $400 per LWT.

For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.

The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the interim unaudited condensed Consolidated Statements of Income.

(e)

Assets Held for Sale

The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within one year; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. As of June 30, 2026, Ian H, Manet, Kumasi and Julie, which were agreed to be sold for an aggregate sale price $65,500, did not meet the criteria as held for sale. The ships are scheduled to be delivered to buyers upon expiry of their respective charters.

(f)

Intangible assets and liabilities – charter agreements

The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital.

The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the interim unaudited condensed Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.

(g)

Impairment of Long-lived assets

Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers. For the deposits for vessels under construction, the net cash flows also include the future cash out flows to make vessels ready for use, all remaining progress payments to shipyards and pre-delivery expenses.

The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter, (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet, (iii) operating costs, based on current levels escalated over time based on long term trends, (iv) dry docking frequency, duration and cost, (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values.

Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market.

During the six months ended June 30, 2026, the Company evaluated the impact of the current economic environment and other relevant events and circumstances on the recoverability of all its vessel groups. For the Company’s vessel groups other than the four vessels discussed below, the Company determined that there were no events or changes in circumstances indicating that their carrying amounts may not be recoverable. During the six months ended June 30, 2026, the Company entered into agreements to sell four vessels to third parties, with delivery expected after completion of their existing charter parties. Although these vessels were not classified as held for sale as of June 30, 2026, the expected disposal before the end of their previously estimated useful lives was considered a triggering event under ASC 360. The Company performed a recoverability assessment and concluded that no impairment loss was required.

During the six months ended June 30, 2025, the Company evaluated the impact of current economic situation on the recoverability of all its vessel groups and has determined that there were no events or changes in circumstances which indicated that their carrying amounts may not be recoverable. Accordingly, there was no triggering event, and no impairment test was performed for the six months ended June 30, 2025.

Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025.

(h)

Revenue recognition and related expense

The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification, adjusted for any prepaid or accrued balance from the original lease, generally on a straight-line basis over the new lease term (the remaining balance from the original lease, adjusted for the additional or terminated periods). During the six-month periods ended June 30, 2026, and 2025, an amount of $4,425 and $2,738 loss, respectively, has been recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of June 30, 2026, current and non-current portion from implementing the straight-line basis, amounting to $9,807 ($12,643 as of December 31, 2025) and $8,079 ($10,344 as of December 31, 2025), respectively, are presented in the interim unaudited condensed Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively. As of June 30, 2026, current liability and non-current liability from implementing the straight-line basis, amounting to $4,770 ($8,624 as of December 31, 2025) and $6,968 ($3,797 as of December 31, 2025), are presented in the interim unaudited condensed Consolidated Balance Sheets in the line item “Current portion of deferred revenue” and “Deferred revenue, net of current portion”, respectively.

Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered.

Under time charter arrangements, the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses.

Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle.

Leases: In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the interim unaudited condensed Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date.

Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases.

In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the interim unaudited condensed Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out -bareboat- out arrangements.

In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset.

The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics.

(i)

Segment Reporting

The Company derives its revenues from chartering vessels to liner companies. The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each vessel or type of charter. Management does not identify expenses, profitability or other financial information by vessel or charter type. The Company’s Executive Chairman, Chief Executive Officer and Chief Financial Officer, collectively, who are the Chief Operating Decision Maker ("CODM"), review operating results solely by revenue per day and consolidated net income of the fleet and thus the Company has determined that it operates under one operating and reportable segment. Consolidated vessel operating expense information presented within the interim unaudited condensed Consolidated Statements of Income is considered to be significant expenses. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.

(j)

Fair Value Measurement and Financial Instruments

Financial instruments carried on the interim unaudited condensed Consolidated Balance Sheets include cash and cash equivalents, restricted cash and other instruments, time deposits, trade receivables and payables, other receivables and other liabilities, amounts due to/from related parties, derivatives and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable.

Fair value measurement: Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows:

Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.

Level 2 - Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Fair value of assets and liabilities

The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

Cash and cash equivalents, restricted cash and other instruments, time deposits, amounts due to/from related parties: The carrying amounts reported in the interim unaudited condensed Consolidated Balance Sheets for these balances approximate their fair value because of the short maturity or short-term nature of these balances.

Long-term debt, including current portion, net: The carrying value of our long-term bank loans and sale and leaseback agreements continues to approximate its fair value generally due to their variable interest rates. The carrying value has been adjusted to reflect the net presentation of deferred finance costs.

The estimated fair values of the Company’s financial instruments are as follows:


		June 30, 2026						December 31, 2025
		Book Value			Fair Value			Book Value			Fair Value
Cash and cash equivalents	$	388,599		$	388,599		$	273,876		$	273,876
Time deposits	$	110,450		$	110,450		$	199,100		$	199,100
Restricted cash and other instruments	$	149,990		$	149,990		$	164,120		$	164,120
Derivative assets and other financial instruments	$	22,954		$	22,954		$	5,234		$	5,234
Due from related parties	$	1,309		$	1,309		$	148		$	148
Due to related parties	$	(740	)	$	(740	)	$	(692	)	$	(692	)
Credit facilities and financial liabilities, including current portion, net	$	(671,764	)	$	(676,425	)	$	(689,142	)	$	(694,709	)


		Fair Value Measurements as at June 30, 2026
		Total			Level I			Level II			Level III
Cash and cash equivalents	$	388,599		$	388,599		$	-		$	-
Time deposits	$	110,450		$	110,450		$	-		$	-
Restricted cash and other instruments	$	149,990		$	149,990		$	-		$	-
Derivative assets and other financial instruments	$	22,954		$	-		$	22,954		$	-
Due from related parties	$	1,309		$	1,309		$	-		$	-
Due to related parties	$	(740	)	$	(740	)	$	-		$	-
Credit facilities and financial liabilities, including current portion, net	$	(676,425	)	$	-		$	(676,425	)	$	-


		Fair Value Measurements as at December 31, 2025
		Total			Level I			Level II			Level III
Cash and cash equivalents	$	273,876		$	273,876		$	-		$	-
Time deposits	$	199,100		$	199,100		$	-		$	-
Restricted cash and other instruments	$	164,120		$	164,120		$	-		$	-
Derivative assets and other financial instruments	$	5,234		$	-		$	5,234		$	-
Due from related parties	$	148		$	148		$	-		$	-
Due to related parties	$	(692	)	$	(692	)	$	-		$	-
Credit facilities and financial liabilities, including current portion, net	$	(694,709	)	$	-		$	(694,709	)	$	-

In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022, the Company further hedged its exposure by putting in place two USD one-month LIBOR interest rate caps of 0.75% through fourth quarter 2026, on $507,891 of its floating rate debt. The second-interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as of June 30, 2026, was recorded through interim unaudited condensed Consolidated Statements of Income ($2,831 negative fair value adjustment for June 30, 2025). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged. During 2023, all Company’s loan agreements have been amended and restated to take into effect the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to 1-month Compounded SOFR on July 1, 2023, at a level of 0.64%.

The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective.

The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, Derivatives and Hedging, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs).

On April 4, 2024, the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements, starting April 11, 2024, and ended March 13, 2025. The strike price was EUR/USD 1.10. The Company entered to this option to hedge the downside foreign exchange risk associated with expenses denominated in EUR against fluctuations between the US Dollar and Euro. This FX option was designated as a cash flow hedge of anticipated expenses totalling €3,000, expected to occur each month. Changes in the fair value of the option other than “intrinsic value” were excluded from the assessment of effectiveness. The effectiveness of the hedging relationship was periodically assessed during the life of the hedge by comparing the terms of the option and the forecasted expenses to ensure that they continued to coincide. Should the critical terms no longer matched exactly, hedge effectiveness (both prospective and retrospective) was assessed by evaluating the dollar-offset ratio of the spot intrinsic value of the actual option contract and a hypothetically perfect option contract.

In January 2026, the Company entered into a series of FX Reverse Convertible transactions for a total amount of $33,000. These instruments are USD-denominated structured notes with returns linked to the EUR/USD exchange rate. Each instrument has a fixed coupon payable at maturity, is USD capital protected and is subject to potential principal conversion into EUR if the EUR/USD exchange rate falls below the specified strike. Each instrument is a hybrid financial instrument with an embedded foreign exchange option. The Company has elected the Fair Value Option under ASC 825 for these structured instruments. As of June 30, 2026, $12,000 of the FX Reverse Convertible instruments have matured. Under the fair value option, as of June 30, 2026, the instruments are presented as assets measured at fair value amounting to $20,986 ($nil as of December 31, 2025) in the interim unaudited condensed Consolidated Balance Sheets in the line item “Derivative assets and other financial instruments”. As of June 30, 2026, a negative fair value adjustment amounting to $73 ($nil as of June 30, 2025) is recognized in the interim unaudited condensed Consolidated Statements of Income in the line item “Fair value adjustment on derivative asset and other financial instruments”.

Financial Risk Management: The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations.

Credit Risk: The Company closely monitors its credit exposure to customers and counterparties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see Note 8). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history. Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable, cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows.

Liquidity Risk: Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs.

Foreign Exchange Risk: Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the interim unaudited condensed Consolidated Statements of Income.

(k)

Derivative instruments

The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $484,106 (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings.

At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items.

This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A.

The premium paid related to this derivative was classified in the interim unaudited condensed Consolidated Statements of Cash Flows as operating activities in the line item “Derivative assets and other financial instruments”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method,” as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expensing of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred.

In February 2022, the Company purchased two interest rate caps with an aggregate notional amount of $507,891. The first interest rate cap of $253,946 which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $1,113 as at June 30, 2026 ($2,831 negative fair value adjustment as at June 30, 2025) was recorded through interim unaudited condensed Consolidated Statements of Income. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, the Company has designated only a portion of its outstanding debt (initially $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged (see Note 6).

(l)

Recent accounting pronouncements

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The standard is intended to enhance transparency of income statement disclosures primarily through additional disaggregation of relevant expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the potential impact of adopting this standard on the Company’s interim unaudited condensed Consolidated Financial Statements and disclosures.

Intangible Liabilities - Charter Agreements (Details) $ in Thousands		3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 17, 2026 USD ($) TEU	Dec. 31, 2025 Vessel TEU	Jun. 30, 2026 USD ($) Vessel TEU	Jun. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)	Jan. 09, 2026 Vessel
Intangible Liabilities – Charter Agreements [Abstract]
Number of vessels for intangible liability \| Vessel			4
Amortization income of intangible liabilities-charter agreements \| $			$ 12,672	$ 6,533
Remaining intangible liabilities-charter agreements term			3 years 9 months 18 days
Sydney, Istanbul And Bremerhaven Express [Member]
Intangible Liabilities – Charter Agreements [Abstract]
Capacity in TEUs \| TEU			9,019
Intangible liability recognized \| $					$ 49,295
Three Eco 8,586 TEU Vessels [Member] \| Vessels Purchase Agreement [Member]
Intangible Liabilities – Charter Agreements [Abstract]
Number of vessels for intangible liability \| Vessel		3
Capacity in TEUs \| TEU		8,586
Number of vessels delivered \| Vessel		2				1
Lotus A, Koi Cypress [Member]
Intangible Liabilities – Charter Agreements [Abstract]
Capacity in TEUs \| TEU	8,586
Intangible liability recognized \| $	$ 57,183

Summary of Significant Accounting Policies and Disclosures - Fair Value Measurement and Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	$ 388,599	$ 273,876
Restricted cash and other instruments	51,326	50,520
Derivative assets and other financial instruments	22,954	5,234
Due from related parties	$ 1,309	$ 148
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ (740)	$ (692)
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Book Value [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	$ 388,599	$ 273,876
Time deposits	110,450	199,100
Restricted cash and other instruments	149,990	164,120
Derivative assets and other financial instruments	22,954	5,234
Due from related parties	$ 1,309	$ 148
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ (740)	$ (692)
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Credit facilities and financial liabilities, including current portion, net	$ (671,764)	$ (689,142)
Fair Value [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	388,599	273,876
Time deposits	110,450	199,100
Restricted cash and other instruments	149,990	164,120
Derivative assets and other financial instruments	22,954	5,234
Due from related parties	$ 1,309	$ 148
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ (740)	$ (692)
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Credit facilities and financial liabilities, including current portion, net	$ (676,425)	$ (694,709)

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Charter Hire Receivable

The Company has entered into time charters for its vessels. The charter hire is fixed for the duration of the charter. The minimum contracted future charter hire receivable, net of address commissions, not allowing for any unscheduled off-hire, assuming expiry at earliest possible dates and assuming options callable by the Company included in the charters are not exercised, for the 71 vessels and for the 15 container vessels under construction as at June 30, 2026 is as follows:


Period ending		Amount
June 30, 2027	$	764,493
June 30, 2028		548,313
June 30, 2029		295,408
June 30, 2030		270,186
June 30, 2031 and thereafter		1,202,790
Total minimum lease revenue, net of address commissions	$	3,081,190

The Company has outstanding commitments under vessel construction contracts as of June 30, 2026, see Note 3 “Vessels in Operation”.

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2026

Long-Term Debt [Abstract]

Schedule of Long-term Debt

Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following:

Facilities		June 30, 2026			December 31, 2025
BofA Credit Facility (a)	$	55,500		$	-
UBS Credit Facility (b)		57,000			71,000
2024 Senior Secured Term Loan Facility (c)		216,000			240,000
2027 Secured Notes (d)		153,125			179,375
Total credit facilities	$	481,625		$	490,375
Sale and Leaseback Agreements
Minsheng Sale and Leaseback Agreements - $178,000 (h)		159,888			166,788
CMBFL Sale and Leaseback Agreements - $120,000 (i)		34,912			37,546
Total Sale and Leaseback Agreements	$	194,800		$	204,334
Total borrowings	$	676,425		$	694,709
Less: Current portion of long-term debt		(135,437	)		(128,500	)
Less: Current portion of Sale and Leaseback Agreements (h, i)		(19,067	)		(19,067	)
Less: Deferred financing costs (k)		(4,661	)		(5,567	)
Non-current portion of Long-Term Debt	$	517,260		$	541,575

Maturities of Long-term Debt

Maturities of long-term debt for the periods subsequent to June 30, 2026, are as follows:


Payment due by period ended		Amount
June 30, 2027	$	154,504
June 30, 2028		222,008
June 30, 2029		54,738
June 30, 2030		46,738
June 30, 2031		107,550
June 30, 2032 and thereafter		90,887
	$	676,425

Deferred Financing Costs


		June 30, 2026			December 31, 2025
Opening balance	$	5,567		$	7,042
Expenditure in the period		333			2,185
Amortization included within interest expense		(1,239	)		(3,660	)
Closing balance	$	4,661		$	5,567

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

+ Details

Long-Term Debt - $178,000 Sale and Leaseback Agreements - Minsheng Financial Leasing (Details) $ in Thousands		3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 23, 2024 USD ($) Vessel Installment	Mar. 31, 2025 USD ($) Vessel Agreement	Jun. 30, 2026 USD ($)	Dec. 31, 2024 USD ($) TEU
Minsheng Financial Leasing [Member]
Long-Term Debt [Abstract]
Face amount	$ 178,000
Number of sale and leaseback agreements	2	2
Number of vessels financed (in Vessel) \| Vessel	2	2
Outstanding balance		$ 178,000	$ 159,888	$ 44,500
Number of payment installments (in Installment) \| Installment	40
Frequency of periodic payment			quarterly
Periodic installment payment	$ 862,500
Balloon payment	$ 10,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	SOFR [Member]
Margin on variable rate	2.50%
Minsheng Financial Leasing [Member] \| Bremerhaven Express [Member]
Long-Term Debt [Abstract]
Maturity date	Dec. 31, 2034
Minsheng Financial Leasing [Member] \| Istanbul Express, Sydney Express and Czech [Member]
Long-Term Debt [Abstract]
Maturity date	Jan. 31, 2035
Minsheng Financial Leasing [Member] \| Sale and Leaseback Agreements, Second [Member]
Long-Term Debt [Abstract]
Face amount	$ 44,500	44,500
Minsheng Financial Leasing [Member] \| Sale and Leaseback Agreements, First [Member]
Long-Term Debt [Abstract]
Face amount	$ 44,500	$ 44,500
Four High Reefer ECO Vessels [Member]
Long-Term Debt [Abstract]
Vessel capacity in TEUs (in TEU) \| TEU				9,019

Vessels in Operation

6 Months Ended

Jun. 30, 2026

Vessels in Operation [Abstract]

Vessels in Operation

		Vessel Cost, as adjusted for			Accumulated			Net Book
		Impairment charges			Depreciation			Value
As of January 1, 2025	$	2,288,855		$	(404,215	)	$	1,884,640

Additions		203,314			-			203,314
Depreciation		-			(91,906	)		(91,906	)
Disposals		(61,111	)		27,951			(33,160	)
As of December 31, 2025	$	2,431,058		$	(468,170	)	$	1,962,888

Additions		53,279			-			53,279
Depreciation		-			(49,727	)		(49,727	)
As of June 30, 2026	$	2,484,337		$	(517,897	)	$	1,966,440

As of June 30, 2026, and December 31, 2025, the Company had made additions for vessel expenditures and other capitalized vessel expenses. As of June 30, 2026, and June 30, 2025, unpaid capitalized expenses were $12,226 and $12,979 respectively.

2025 Vessel acquisitions

During the fourth quarter of 2025, the Company agreed to purchase the ECO 8,586 TEU Vessels, which are three ECO 8,586 TEU, Korean-built containerships, for an aggregate price of approximately $90,000, of which two were delivered on various dates in December 2025 and the third one on January 9, 2026. As of December 31, 2025, the Company had paid in advance the purchase price of the third ECO 8,586 TEU Vessel, Cypress, which was delivered on January 9, 2026. On June 17, 2026, the Company entered into a loan agreement to finance the acquisition of the three ECO 8,586 TEU Vessels (Note 7a).


Name	Capacity in TEUs	Year Built	Purchase Price	Delivery date
Koi (*)	8,586	2011	$30,000	December 29, 2025
Lotus A (*)	8,586	2010	$30,000	December 12, 2025
Cypress (*)	8,586	2011	$30,000	January 9, 2026

(*) The charters of the ECO 8,586 TEU Vessels resulted in an intangible liability of $57,183 that was recognized and will be amortized over the remaining useful life of the charters.

In January 2025, the Company took delivery of the fourth ECO 9,019 TEU Vessel as per below:


Name	Capacity in TEUs	Year Built	Purchase Price	Delivery date
Czech (*)	9,019	2015	$68,391	January 9, 2025

(*) The charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition.

2026 Agreed Vessels to be sold

During the second quarter of 2026, the Company entered into agreements for the sale of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters. As of June 30, 2026, the four vessels were released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027.

2025 Sale of Vessels

In May 2025, Dimitris Y was contracted to be sold for $35,600 and was delivered to the buyers on October 13, 2025. Vessel’s net proceeds from the sale of vessel were $35,085. On July 28, 2025, the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $17,943.

In February 2025, the Company agreed to sell Keta, a 2,207 TEU vessel, which was sold on March 24, 2025, for net proceeds of $11,944, and the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $7,121.

In December 2024, the Company agreed to sell Tasman, a 5,936 TEU vessel, which was sold on March 10, 2025, for net proceeds of $30,846, and the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $17,929.

In February 2025, the Company agreed to sell Akiteta, a 2,220 TEU vessel, which was sold on February 19, 2025, for net proceeds of $10,693, and the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027. The net gain from the sale of vessel was $3,279.

Container vessels under construction

During the six months ended June 30, 2026, the Company agreed individual newbuilding contracts for 15 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships for an aggregate purchase price of approximately $1,329,863. As of June 30, 2026, the Company had a total of 15 container vessels under construction, with scheduled deliveries between 4Q 2028 and 1Q 2030. As of June 30, 2026, and December 31, 2025, the Company had made advances for deposits for vessels under construction of $124,340 and $nil, respectively.

As of June 30, 2026, the future remaining contractual commitments for the 15 container vessels under construction were as follows:


		Amount
June 30, 2027	$	74,463
June 30, 2028		88,887
June 30, 2029		670,756
June 30, 2030		371,417
Total contractual commitments	$	1,205,523

Impairment

The Company evaluated the impact of the current economic environment and other relevant events and circumstances on the recoverability of all its vessel groups. For the Company’s vessel groups other than the four vessels discussed below, the Company determined that there were no events or changes in circumstances indicating that their carrying amounts may not be recoverable. During the six months ended June 30, 2026, the Company entered into agreements to sell four vessels to third parties, with delivery expected after completion of their existing charter parties. Although these vessels were not classified as held for sale as of June 30, 2026, the expected disposal before the end of their previously estimated useful lives was considered a triggering event under ASC 360. The Company performed a recoverability assessment and concluded that no impairment loss was required.

Collateral

As of June 30, 2026, 11 vessels were mortgaged as collateral under the 5.69% Senior Secured Notes due 2027 and 39 vessels under the Company’s loan facilities and sale and leaseback agreements. Twenty-one vessels were unencumbered as of June 30, 2026.

Advances for vessel acquisitions, container vessels under construction, and other additions

As of June 30, 2026, the Company had made $nil, $124,340, and $5,043 for advances for vessel acquisitions, deposits for container vessels under construction, and other additions, respectively. As of December 31, 2025, the Company had made $30,200, $nil, and $5,761 for advances for vessel acquisitions, container vessels under construction, and other additions, respectively.

- Definition

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482130/360-10-45-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.CC)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480091/360-10-S99-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

+ Details

Long-Term Debt - 5.69% Senior Secured Notes due 2027 (Details) - 2027 Senior Secured Notes [Member] $ in Thousands		6 Months Ended
	Jun. 16, 2022 USD ($)	Jun. 30, 2026 USD ($) Vessel	Dec. 31, 2025 USD ($)	Mar. 31, 2025 Vessel
Long-Term Debt [Abstract]
Stated interest rate	5.69%
Face amount \| $	$ 350,000
Debt Instrument Interpolated Rate	2.84%
Margin on variable rate	2.85%
Maturity date	Jul. 15, 2027
Number of identified vessels owned by subsidiaries (in Vessel) \| Vessel		20
Numbers of vessels released as collateral (in Vessel) \| Vessel		4		3
Outstanding balance \| $		$ 153,125	$ 179,375
Debt Redemption Period, One [Member]
Long-Term Debt [Abstract]
Percentage of original principal balance of note payable	15.00%
Frequency of periodic payment		quarterly

Intangible Liabilities - Charter Agreements

6 Months Ended

Jun. 30, 2026

Intangible Liabilities – Charter Agreements [Abstract]

Intangible Liabilities - Charter Agreements

Intangible Liabilities – Charter Agreements

Intangible Liabilities – Charter Agreements as of June 30, 2026, and December 31, 2025, consisted of the following:


		June 30, 2026			December 31, 2025
Opening balance	$	90,054		$	49,431
Additions ^(*)		19,061			54,109
Amortization		(12,672	)		(13,486	)
Total	$	96,443		$	90,054

Intangible liabilities are related to (a) acquisition of the four ECO 9,019 TEU Vessels delivered in December 2024 and January 2025 (the charters of which resulted in an intangible liability of $49,295), (b) acquisition of the three ECO 8,586 TEU Vessels, out of which two were delivered in December 2025 and one in January 2026 (the charters of which resulted in an intangible liability of $57,183), and (c) management’s estimate of the fair value of below-market charters on August 14, 2008, the date of the Marathon Merger. These intangible liabilities are being amortized over the remaining life of the relevant lease terms and the amortization income is included under the caption “Amortization of intangible liabilities-charter agreements” in the interim unaudited condensed Consolidated Statements of Income.

Amortization income of intangible liabilities-charter agreements for each of the six months ended June 30, 2026, and 2025 was $12,672 and $6,533, respectively.

The aggregate amortization of the intangible liabilities in each of the 12-month periods up to June 30, 2031, is estimated to be as follows:


		Amount
June 30, 2027	$	25,772
June 30, 2028		25,842
June 30, 2029		25,772
June 30, 2030		18,811
June 30, 2031		246
	$	96,443

The weighted average life for the remaining intangible liabilities-charter agreements terms is 3.8 year.

Subsequent Events (Details) - 2026 Q2 Dividends [Member] - Common Class A [Member] - Subsequent Events [Member]	Aug. 05, 2026 $ / shares
Subsequent Events [Abstract]
Dividend payable, date declared	August 5, 2026
Dividend payable per share (in Dollars per share)	$ 0.625
Dividends payable, date to be paid	Sep. 03, 2026
Dividends payable, date of record	Aug. 21, 2026

Inventories

6 Months Ended

Jun. 30, 2026

Inventories [Abstract]

Inventories

Inventories as at June 30, 2026, and December 31, 2025, consisted of the following:


		June 30, 2026		December 31, 2025
Bunkers	$	-	$	452
Lubricants		14,617		13,466
EUAs		7,067		86
Victualling		673		596
Total	$	22,357	$	14,600

Summary of Significant Accounting Policies and Disclosures - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Fair Value [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	$ 388,599	$ 273,876
Time deposits	110,450	199,100
Restricted cash and other instruments	149,990	164,120
Derivative assets and other financial instruments	22,954	5,234
Due from related parties	$ 1,309	$ 148
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ (740)	$ (692)
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Credit facilities and financial liabilities, including current portion, net	$ (676,425)	$ (694,709)
Fair Value, Inputs, Level 1 [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	388,599	273,876
Time deposits	110,450	199,100
Restricted cash and other instruments	149,990	164,120
Derivative assets and other financial instruments	0	0
Due from related parties	$ 1,309	$ 148
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ (740)	$ (692)
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Credit facilities and financial liabilities, including current portion, net	$ 0	$ 0
Fair Value, Inputs, Level 2 [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	0	0
Time deposits	0	0
Restricted cash and other instruments	0	0
Derivative assets and other financial instruments	22,954	5,234
Due from related parties	$ 0	$ 0
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ 0	$ 0
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Credit facilities and financial liabilities, including current portion, net	$ (676,425)	$ (694,709)
Fair Value, Inputs, Level 3 [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Cash and cash equivalents	0	0
Time deposits	0	0
Restricted cash and other instruments	0	0
Derivative assets and other financial instruments	0	0
Due from related parties	$ 0	$ 0
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related parties	$ 0	$ 0
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Credit facilities and financial liabilities, including current portion, net	$ 0	$ 0

Vessels in Operation - Vessels under Construction (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Vessels in Operation [Abstract]
June 30, 2027	$ 74,463
June 30, 2028	88,887
June 30, 2029	670,756
June 30, 2030	371,417
Total contractual commitments	$ 1,205,523

Long-Term Debt - Deferred Financing Costs (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Long-Term Debt [Abstract]
Opening balance	$ 5,567	$ 7,042
Expenditure in the period	333	2,185
Amortization included within interest expense	(1,239)	(3,660)
Closing balance	$ 4,661	$ 5,567

Long-Term Debt - $140,000 HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (Details) - HBOC, CACIB, ESUN, CTBC, Taishin Credit Facility [Member] $ in Thousands			6 Months Ended
	Mar. 23, 2023 USD ($)	Jul. 06, 2021 USD ($) Vessel Installment	Jun. 30, 2026 USD ($)
Long-Term Debt [Abstract]
Face amount		$ 140,000
Number of vessels purchased (in Vessel) \| Vessel		12
Maturity date		Jul. 31, 2026
Frequency of periodic payment			quarterly
Balloon payment		$ 35,600
Prepayment of debt, amount	$ 2,838
Deduction from the balloon installment	$ 1,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		SOFR [Member]
Margin on variable rate		3.25%
Outstanding balance			$ 0
Debt Redemption Period, One [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment		6
Periodic installment payment		$ 8,000
Frequency of periodic payment			quarterly
Debt Redemption Period, Two [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment		8
Periodic installment payment		$ 5,400
Frequency of periodic payment			quarterly
Debt Redemption Period, Three [Member]
Long-Term Debt [Abstract]
Number of payment installments (in Installment) \| Installment		6
Periodic installment payment		$ 2,200
Frequency of periodic payment			quarterly

Vessels in Operation - Vessels Acquisitions (Details)
$ in Thousands

1 Months Ended

6 Months Ended

12 Months Ended

Jun. 17, 2026

USD ($)

TEU

Jan. 09, 2025

USD ($)

TEU

Jan. 31, 2026

USD ($)

TEU

Jun. 30, 2026

USD ($)

TEU

Dec. 31, 2024

USD ($)

Vessels in Operation [Abstract]

Advance for vessel acquisition

$ 6,850

Koi [Member]

Vessels in Operation [Abstract]

Vessel Capacity | TEU

^[1]

8,586

Year Built

^[1]

2011

Purchase Price

^[1]

$ 30,000

Delivery date

^[1]

December 29, 2025

Lotus A [Member]

Vessels in Operation [Abstract]

Vessel Capacity | TEU

^[1]

8,586

Year Built

^[1]

2010

Purchase Price

^[1]

$ 30,000

Delivery date

^[1]

December 12, 2025

Cypress [Member]

Vessels in Operation [Abstract]

Vessel Capacity | TEU

8,586

^[1]

Year Built

^[1]

2011

Purchase Price

^[1]

$ 30,000

Delivery date

^[1]

January 9, 2026

Intangible liability recognized

$ 19,061

Koi Lotus A Cypress [Member]

Vessels in Operation [Abstract]

Vessel Capacity | TEU

8,586

Intangible liability recognized

$ 57,183

Czech [Member]

Vessels in Operation [Abstract]

Vessel Capacity | TEU

9,019

^[2]

Year Built

^[2]

2015

Purchase Price

^[2]

$ 68,391

Delivery date

^[2]

January 9, 2025

Intangible liability recognized

$ 15,987

[1]	The charters of the ECO 8,586 TEU Vessels resulted in an intangible liability of $57,183 that was recognized and will be amortized over the remaining useful life of the charters.
[2]	The charter of the fourth ECO 9,019 TEU Vessel resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition.

Long-Term Debt

6 Months Ended

Jun. 30, 2026

Long-Term Debt [Abstract]

Long-Term Debt

Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following:

Facilities		June 30, 2026			December 31, 2025
BofA Credit Facility (a)	$	55,500		$	-
UBS Credit Facility (b)		57,000			71,000
2024 Senior Secured Term Loan Facility (c)		216,000			240,000
2027 Secured Notes (d)		153,125			179,375
Total credit facilities	$	481,625		$	490,375
Sale and Leaseback Agreements
Minsheng Sale and Leaseback Agreements - $178,000 (h)		159,888			166,788
CMBFL Sale and Leaseback Agreements - $120,000 (i)		34,912			37,546
Total Sale and Leaseback Agreements	$	194,800		$	204,334
Total borrowings	$	676,425		$	694,709
Less: Current portion of long-term debt		(135,437	)		(128,500	)
Less: Current portion of Sale and Leaseback Agreements (h, i)		(19,067	)		(19,067	)
Less: Deferred financing costs (k)		(4,661	)		(5,567	)
Non-current portion of Long-Term Debt	$	517,260		$	541,575

Facilities and Senior Secured Notes

$55,500 BofA Credit Facility

On June 17, 2026, the Company, through certain of its vessel-owning subsidiaries, entered into a $55,500 credit facility with Bank of America N.A. (the “BofA Credit Facility”).

The BofA Credit Facility is repayable in 20 equal consecutive quarterly instalments of $1,734.4, together with a final balloon payment of $20,812 payable together with the last repayment instalment due at maturity in the second quarter of 2031.

This facility’s interest rate is SOFR plus a margin of 1.40% per annum payable quarterly in arrears.

Following the acquisition of the three ECO 8,586 TEU vessels, which were acquired with cash, two were delivered on various dates in December 2025 and the third one on January 9, 2026, the Company subsequently secured and drew down the BofA Credit Facility. On June 18, 2026, the Company had drawn down a total of $55,167, net of $333 facility fee, to finance the acquisition of Cypress, Lotus A and Koi.

As of June 30, 2026, the aggregate principal amount outstanding under the BofA Credit Facility was $55,500.

$85,000 UBS Credit Facility

On March 26, 2025, the Company, through certain of its vessel-owning subsidiaries, entered into a $85,000 credit facility with UBS AG (the “UBS Credit Facility”).

The UBS Credit Facility is repayable in 12 equal consecutive quarterly instalments of $7,000, together with a final balloon payment of $1,000 payable together with the last repayment instalment due at maturity in the second quarter of 2028.

This facility’s interest rate is SOFR plus a margin of 2.15% per annum payable quarterly in arrears.

The Company used the net proceeds from the UBS Credit Facility to prepay in full, the following existing debt facilities (i) Macquarie Credit Facility (fully prepaid on April 3, 2025 the amount of $17,500), (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (fully prepaid on April 3, 2025 the amount of $46,818). On March 28, 2025, the Company fully prepaid, using cash on hand, the amount $5,900 of the E.SUN, MICB, Cathay, Taishin Credit Facility, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025.

As of June 30, 2026, the full amount under the UBS Credit Facility had been drawn and the outstanding balance was $57,000.

$300,000 Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC

On August 7, 2024, the Company, through certain of its vessel-owning subsidiaries, entered into a $300,000 senior secured term loan facility (the “2024 Senior Secured Term Loan Facility”). As of December 31, 2024, the banks in this facility were: Credit Agricole Corporate and Investment Bank (“CACIB”), ABN AMRO Bank N.V. (“ABN”), Bank of America N.A., First Citizens Bank & Trust Company and CTBC Bank Co. Ltd. (“CTBC”) to refinance, or prepay, in full or in part, certain of its then-outstanding indebtedness. All three tranches were drawn down in the third quarter of 2024. The term loan facility matures in the third quarter of 2030.

The 2024 Senior Secured Term Loan Facility is repayable in 12 equal consecutive quarterly instalments of $12,000, four equal consecutive quarterly instalments of $10,000, four equal consecutive quarterly instalments of $8,000 and four equal consecutive quarterly instalments of $6,000 together with a final balloon payment of $60,000 on the term loan facility termination date.

This facility’s interest rate is SOFR plus a margin of 1.85% per annum payable quarterly in arrears.

The Company used the net proceeds from the 2024 Senior Secured Term Loan Facility to refinance or prepay, in full or in part, the following (a) existing debt facilities (i) Sinopac Credit Facility, (ii) Deutsche Bank Credit Facility, (iii) HCOB Credit Facility, (iv) CACIB, Bank Sinopac, CTBC Credit Facility, (v) Chailease Credit Facility, (vi) Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens & Trust Company, Siemens, CTBC, Bank Sinopac, Palatine), (vii) Macquarie loan and (viii) E.SUN, MICB, Cathay, Taishin Credit Facility and (b) existing sale and lease back agreements (i) $54,000 CMBFL Sale and Leaseback Agreement –and (ii) Neptune Sale and Leaseback Agreement. The refinancing transaction was accounted as a debt extinguishment.

As of June 30, 2026, the aggregate principal amount outstanding under the 2024 Senior Secured Term Loan Facility was $216,000.

5.69% Senior Secured Notes due 2027

On June 16, 2022, Knausen Holding LLC (the "Issuer"), an indirect wholly-owned subsidiary of the Company, closed on the private placement of $350,000, led by Goldman Sachs & Co. LLC., of publicly rated/investment grade 5.69% Senior Secured Notes due 2027 (the “2027 Secured Notes”) to a limited number of accredited investors. The fixed interest rate was determined on June 1, 2022, based on the interpolated interest rate of 2.84% plus a margin of 2.85%.

The Company used the net proceeds from the private placement for the repayment of certain of the Company’s then-outstanding indebtedness and for general corporate purposes.

An amount equal to 15% per annum of the original principal balance of each Note is payable in equal quarterly installments on the 15th day of each of January, April, July, and October starting October 15, 2022, and the remaining unpaid principal balance shall be due and payable on the maturity date of July 15, 2027. Interest accrues on the unpaid balance of the Notes, payable quarterly on the 15th day of January, April, July, and October in each year, such interest commencing and accruing on and from June 14, 2022.

The 2027 Secured Notes are senior obligations of the Issuer, were initially secured by first priority mortgages on 20 identified vessels owned by subsidiaries of the Issuer (the “Subsidiary Guarantors”) and certain other associated assets and contract rights, as well as share pledges over the Subsidiary Guarantors. In addition, the 2027 Secured Notes are fully and unconditionally guaranteed by the Company.

During the first quarter of 2025, Tasman, Keta and Akiteta were sold. All three vessels were released as collateral under the 2027 Secured Notes. Further, Dimitris Y was contracted to be sold in May 2025, was released as collateral on July 28, 2025, and delivered to the buyers on October 13, 2025.

As of June 30, 2026, Ian H, Manet, Kumasi, Julie and MSC Qingdao, have been released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027.

As of June 30, 2026, the aggregate principal amount outstanding under the 2027 Secured Notes was $153,125.

Macquarie Credit Facility

On May 18, 2023, the Company, through certain of its vessel-owning subsidiaries, entered into a credit facility agreement with Macquarie Bank Limited for an amount of $76,000 to finance part of the acquisition cost of four containerships, each with a carrying capacity of, 8,544 TEU vessels for an aggregate purchase price of $123,300 (the “Macquarie Credit Facility”). The vessels were delivered during the second quarter of 2023.

All four tranches were drawn down in the second quarter of 2023 and the credit facility had maturity in May 2026. The facility was repayable in two equal consecutive quarterly instalments of $5,000, six equal consecutive quarterly instalments of $6,000 and one quarterly instalments of $3,000 and two equal consecutive quarterly instalments of $1,000 with a final balloon payment of $25,000 payable three years after the first utilization date. This facility’s interest rate was SOFR plus a margin of 3.50% per annum payable quarterly in arrears.

On September 10, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility to partially prepay the amount of $18,500 under this facility (prepayment was deducted from the final balloon payment).

The Company used the net proceeds from the UBS Credit Facility (see Note 7a) and prepaid in full, the following existing debt facilities: (i) Macquarie Credit Facility (fully prepaid on April 3, 2025 the amount of $17,500), (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (fully prepaid on April 3, 2025 the amount of $46,818). On March 28, 2025, the Company fully prepaid with its own cash the amount $5,900 of E.SUN, MICB, Cathay, Taishin Credit Facility, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025. Prepayment fee on full repayment of Macquarie Credit Facility was $175.

As of June 30, 2026, the outstanding balance of this facility was $nil.

$60,000 E.SUN, MICB, Cathay, Taishin Credit Facility

On December 30, 2021, the Company, through certain of its vessel-owning subsidiaries, entered into a syndicated senior secured debt facility with E.SUN Commercial Bank Ltd (“E.SUN”), Cathay United Bank (“Cathay”), Mega International Commercial Bank Co. Ltd (“MICB”) and Taishin International Bank (“Taishin”) (the “E.SUN, MICB Cathay, Taishin Credit Facility”). The Company used a portion of the net proceeds from this credit facility to fully prepay certain of the Company’s then-outstanding indebtedness. All three tranches were drawn down in January 2022.

The facility was repayable in eight equal consecutive quarterly instalments of $4,500 and ten equal consecutive quarterly instalments of $2,400.

This facility’s interest was SOFR plus a margin of 2.75% per annum plus Credit Adjustment Spread (“CAS”) payable quarterly in arrears.

On September 11, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility to partially prepay the amount of $8,500 under this facility. Following the prepayment, the outstanding balance of the facility was repayable in four equal consecutive quarterly instalments of $2,400 and one quarterly instalment of $1,100 and new maturity would have been in October 2025 from July 2026.

On March 28, 2025, the Company fully prepaid the amount of $5,900 under this facility with its own cash, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025 (see Note 7b).

As of June 30, 2026, the outstanding balance of this facility was $nil.

$140,000 HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility

On July 6, 2021, the Company, through certain of its vessel-owning subsidiaries, entered into a facility with CACIB, Hamburg Commercial Bank AG (“HCOB”), ESUN, CTBC and Taishin for a total of $140,000 to finance the acquisition of the Twelve Vessels (the “HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility”). The full amount was drawn down in July 2021 and the credit facility had a maturity in July 2026.

The facility was repayable in six equal consecutive quarterly instalments of $8,000, eight equal consecutive quarterly instalments of $5,400 and six equal consecutive quarterly instalments of $2,200 with a final balloon payment of $35,600 payable together with the final instalment. On March 23, 2023, due to the sale of GSL Amstel, the Company repaid $2,838 on this facility of which $1,000 was deducted from the final balloon payment, and the vessel was released as collateral.

This facility’s interest rate was SOFR plus a margin of 3.25% per annum plus CAS payable quarterly in arrears.

The Company used the net proceeds from the UBS Credit Facility (see Note 7a) to prepay in full, the following existing debt facilities (i) Macquarie Credit Facility, (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility.

As of June 30, 2026, the outstanding balance of this facility was $nil.

Sale and leaseback agreements (finance leases)

$178,000 Sale and Leaseback Agreements – Minsheng Financial Leasing

On December 23, 2024, the Company, through certain of its subsidiaries, entered into two sale and leaseback agreements with Minsheng Financial Leasing (“Minsheng Sale and Leaseback Agreements”) for $44,500, each, to finance the acquisition of two of the ECO 9,019 TEU Vessels, Bremerhaven Express, having closed in December 2024 and the other, Czech, in January 2025. As of December 31, 2024, the Company had drawn down a total of $44,500 to finance the acquisition of Bremerhaven Express. During the first quarter of 2025, the Company entered into two additional sale and leaseback agreements, $44,500 each, to finance the acquisition of the two ECO 9,019 TEU Vessels which were delivered in December 2024, Istanbul Express and Sydney Express, both then fully paid in cash. As at March 31, 2025, the Company had drawn down a total of $178,000. The Company has a purchase obligation to acquire the vessels at the end of their lease term and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreements as financial liability.

The sale and leaseback agreements are repayable in 40 equal consecutive quarterly instalments of $862.5 with a repurchase obligation of $10,000 on the final repayment date.

The sale and leaseback agreement for Bremerhaven Express matures in December 2034, Istanbul Express, Sydney Express and Czech mature in January 2035, and bear interest at SOFR plus a margin of 2.5% per annum payable quarterly in arrears.

As of June 30, 2026, the outstanding balance of these sale and leaseback agreements was $159,888.

$120,000 Sale and Leaseback Agreements – CMBFL Four Vessels

On August 26, 2021, the Company, through certain of its subsidiaries, entered into four $30,000 sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (“CMBFL”) to finance the acquisition of the Four Vessels (the “CMBFL Sale and Leaseback Agreements”). As at September 30, 2021, the Company had drawn down a total of $90,000. The drawdown for the fourth vessel, amounting to $30,000, took place on October 13, 2021, together with the delivery of this vessel. The Company has a purchase obligation to acquire the Four Vessels at the end of their lease terms and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreement as financial liabilities.

Each sale and leaseback agreement is repayable in 12 equal consecutive quarterly instalments of $1,587.5 and 12 equal consecutive quarterly instalments of $329.2 with a repurchase obligation of $7,000 on the final repayment date.

The sale and leaseback agreements for the three vessels mature in September 2027 and for the fourth vessel in October 2027 and bore interest at SOFR plus a margin of 3.25% per annum plus CAS payable quarterly in arrears. From November 20, 2024, as per supplemental agreement, the sale and leaseback agreements bear interest at SOFR plus a margin of 2.75% per annum.

As of June 30, 2026, the outstanding balance of these sale and leaseback agreements was $34,912.

Repayment Schedule

Maturities of long-term debt for the periods subsequent to June 30, 2026, are as follows:


Payment due by period ended		Amount
June 30, 2027	$	154,504
June 30, 2028		222,008
June 30, 2029		54,738
June 30, 2030		46,738
June 30, 2031		107,550
June 30, 2032 and thereafter		90,887
	$	676,425

Deferred Financing Costs


		June 30, 2026			December 31, 2025
Opening balance	$	5,567		$	7,042
Expenditure in the period		333			2,185
Amortization included within interest expense		(1,239	)		(3,660	)
Closing balance	$	4,661		$	5,567

For the period ended June 30, 2026, total costs amounting to $333 were incurred in connection with the BofA Credit Facility (see Note 7a).

During 2025, total costs amounting to $1,335 were incurred in connection with the Minsheng Sale and Leaseback Agreements (see Note 7h) and $850 in connection with the UBS Credit Facility (see Note 7b).

For the six-month periods ended June 30, 2026, and 2025, the Company recognized a total of $1,239 and $2,257, respectively, in respect of amortization of deferred financing costs.

Debt covenants-securities

Amounts drawn under the facilities listed above are secured by first priority mortgages on certain of the Company’s vessels and other collateral. The credit facilities contain a number of restrictive covenants that limit the Company from, among other things: incurring or guaranteeing indebtedness; charging, pledging or encumbering the vessels; and changing the flag, class, management or ownership of the vessel owning entities. The credit facilities also require the vessels to comply with the ISM Code and ISPS Code and to maintain valid safety management certificates and documents of compliance at all times. Additionally, specific credit facilities require compliance with a number of financial covenants including asset cover ratios and minimum liquidity and corporate guarantor requirements. Among other events, it will be an event of default under the credit facilities if the financial covenants are not complied with or remedied.

As of June 30, 2026, and December 31, 2025, the Company was in compliance with its debt covenants.

Stock-Based Compensation (Details) $ in Thousands			3 Months Ended	6 Months Ended		12 Months Ended
Stock-Based Compensation (Details) $ in Thousands	Sep. 25, 2025 shares	Sep. 29, 2021 shares	Mar. 31, 2024 shares	Jun. 30, 2026 USD ($) shares	Jun. 30, 2025 USD ($)	Dec. 31, 2025 Tranche shares	Dec. 31, 2024 shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Stock-Based Compensation [Abstract]
Stock-based compensation expense (in Dollars) \| $				$ 10,998	$ 4,244
Equity Incentive Plan [Member]
Stock-Based Compensation [Abstract]
Share-based compensation plan term				10 years
Equity Incentive Plan [Member] \| Common Class A [Member] \| Non-Executive Director [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)		105,000
Maximum number of shares granted (in Shares)		25,000
Equity Incentive Plan [Member] \| Common Class A [Member] \| Senior Management [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)		1,500,000
2019 Plan [Member] \| Common Class A [Member]
Stock-Based Compensation [Abstract]
Additional shares authorized under the plan (in Shares)		1,600,000
Shares approved under equity incentive plan (in Shares)		3,412,500
2021 Equity Incentive Awards [Member] \| Common Class A [Member]
Stock-Based Compensation [Abstract]
Share-based awards vested (in Shares)						261,461	535,912	399,727	218,366	55,175
Stock options vested (in Shares)						1,470,641
Number of shares vested, but unissued (in Shares)						0	204,797
2021 Equity Incentive Awards [Member] \| Common Class A [Member] \| Non-Executive Director [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)			6,465
Shares granted (in Shares)							8,311
Share-based awards vested (in Shares)							4,884
2021 Equity Incentive Awards [Member] \| Common Class A [Member] \| Directors [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)		15,000
Shares granted (in Shares)									13,780
2021 Equity Incentive Awards [Member] \| Common Class A [Member] \| CEO [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)			51,750
2021 Equity Incentive Awards [Member] \| Common Class A [Member] \| CEO [Member]
Stock-Based Compensation [Abstract]
Forfeited shares (in Shares)			155,250
2025 Equity Incentive Awards [Member]
Stock-Based Compensation [Abstract]
Number of tranches (in Tranche) \| Tranche						3
Payout percentage						0.00%
Moonshot return on equity threshold percentage						30.00%
2025 Equity Incentive Awards [Member] \| Minimum [Member]
Stock-Based Compensation [Abstract]
Return on equity threshold percentage						13.00%
Payout percentage						50.00%
2025 Equity Incentive Awards [Member] \| Maximum [Member]
Stock-Based Compensation [Abstract]
Return on equity threshold percentage						15.00%
Payout percentage						100.00%
2025 Equity Incentive Awards [Member] \| Common Class A [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						54,750
Share-based awards vested (in Shares)				121,806		60,903
2025 Equity Incentive Awards [Member] \| Common Class A [Member] \| Non-Executive Director [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						22,500
2025 Equity Incentive Awards [Member] \| Common Class A [Member] \| Senior Management [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						2,195,250
2025 Equity Incentive Awards [Member] \| Common Class A [Member] \| Directors [Member]
Stock-Based Compensation [Abstract]
Share-based compensation plan term						3 years 3 months
Shares granted (in Shares)	2,430,000
2025 Equity Incentive Awards [Member] \| Service Tranche [Member] \| Common Class A [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						18,250
2025 Equity Incentive Awards [Member] \| Service Tranche [Member] \| Common Class A [Member] \| Non-Executive Director [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						7,500
2025 Equity Incentive Awards [Member] \| Service Tranche [Member] \| Common Class A [Member] \| Senior Management [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						731,750
2025 Equity Incentive Awards [Member] \| Performance Tranche [Member] \| Common Class A [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						18,250
2025 Equity Incentive Awards [Member] \| Performance Tranche [Member] \| Common Class A [Member] \| Non-Executive Director [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						7,500
2025 Equity Incentive Awards [Member] \| Performance Tranche [Member] \| Common Class A [Member] \| Senior Management [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						731,750
2025 Equity Incentive Awards [Member] \| Moonshot Tranche [Member] \| Common Class A [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						18,250
2025 Equity Incentive Awards [Member] \| Moonshot Tranche [Member] \| Common Class A [Member] \| Non-Executive Director [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						7,500
2025 Equity Incentive Awards [Member] \| Moonshot Tranche [Member] \| Common Class A [Member] \| Senior Management [Member]
Stock-Based Compensation [Abstract]
Shares approved under equity incentive plan (in Shares)						731,750

Description of Business (Tables)

6 Months Ended

Jun. 30, 2026

Description of Business [Abstract]

Owned Container Vessels

The following table provides information about the 71 operating container vessels owned as at June 30, 2026.


Company Name ⁽¹⁾	Country of Incorporation	Vessel Name	Capacity in TEUs (2)	Year Built	Earliest Charter Expiry Date
Global Ship Lease 54 LLC	Liberia	CMA CGM Thalassa	11,040	2008	3Q28
Laertis Marine LLC	Marshall Islands	Zim Norfolk	9,115	2015	2Q32 (4)
Penelope Marine LLC	Marshall Islands	Zim Xiamen	9,115	2015	3Q32 (4)
Telemachus Marine LLC	Marshall Islands	Anthea Y	9,115	2015	4Q28
Global Ship Lease 78 LLC (3)	Liberia	Sydney Express	9,019	2016	3Q27 (5)
Global Ship Lease 79 LLC (3)	Liberia	Istanbul Express	9,019	2016	1Q28 (5)
Global Ship Lease 77 LLC (3)	Liberia	Bremerhaven Express	9,019	2015	2Q27 (5)
Global Ship Lease 76 LLC (3)	Liberia	Czech	9,019	2015	2Q28 (5)
Global Ship Lease 53 LLC	Liberia	MSC Tianjin	8,603	2005	3Q30 (6)
Global Ship Lease 52 LLC	Liberia	MSC Qingdao	8,603	2004	4Q30 (6)
Global Ship Lease 43 LLC	Liberia	GSL Ningbo	8,603	2004	3Q30 (6)
Global Ship Lease 72 LLC	Liberia	GSL Alexandra	8,599	2004	3Q28 (7)
Global Ship Lease 73 LLC	Liberia	GSL Sofia	8,599	2003	2Q28 (7)
Global Ship Lease 74 LLC	Liberia	GSL Effie	8,599	2003	3Q28 (7)
Global Ship Lease 75 LLC	Liberia	GSL Lydia	8,599	2003	1Q28 (7)
Global Ship Lease 80 LLC	Liberia	Lotus A	8,586	2010	4Q26 (8)
Global Ship Lease 81 LLC	Liberia	Koi	8,586	2011	4Q26 (8)
Global Ship Lease 82 LLC	Liberia	Cypress	8,586	2011	4Q26 (8)
Global Ship Lease 30 Limited	Marshall Islands	GSL Eleni	7,847	2004	4Q27 (9)
Global Ship Lease 31 Limited	Marshall Islands	GSL Kalliopi	7,847	2004	1Q28 (9)
Global Ship Lease 32 Limited	Marshall Islands	GSL Grania	7,847	2004	1Q28 (9)
Alexander Marine LLC	Marshall Islands	Colombia Express	7,072	2013	4Q28 (10)
Hector Marine LLC	Marshall Islands	Panama Express	7,072	2013	4Q29 (10)
Ikaros Marine LLC	Marshall Islands	Costa Rica Express	7,072	2013	2Q29 (10)
Philippos Marine LLC	Marshall Islands	Nicaragua Express	7,072	2013	3Q29 (10)
Global Ship Lease 48 LLC	Liberia	Ateti (ex CMA CGM Berlioz) (11)	7,023	2001	2Q29 (11)
Aristoteles Marine LLC	Marshall Islands	Mexico Express	6,918	2015	3Q29 (10)
Menelaos Marine LLC	Marshall Islands	Jamaica Express	6,918	2015	3Q29 (10)
Global Ship Lease 35 LLC	Liberia	GSL Nicoletta	6,858	2002	1Q28
Global Ship Lease 36 LLC	Liberia	GSL Christen	6,858	2002	4Q27
Leonidas Marine LLC	Marshall Islands	Agios Dimitrios	6,572	2011	3Q30 (6)
Global Ship Lease 33 LLC	Liberia	GSL Vinia	6,080	2004	1Q28 (12)
Global Ship Lease 34 LLC	Liberia	GSL Christel Elisabeth	6,080	2004	1Q28 (12)
GSL Arcadia LLC	Liberia	GSL Arcadia	6,008	2000	1Q29 (13)
GSL Melita LLC	Liberia	GSL Melita	6,008	2001	4Q29 (13)
GSL Maria LLC	Liberia	GSL Maria	6,008	2001	1Q30 (13)
GSL Violetta LLC	Liberia	GSL Violetta	6,008	2000	1Q29 (13)
GSL MYNY LLC	Liberia	GSL MYNY	6,008	2000	1Q29 (13)
GSL Tegea LLC	Liberia	GSL Tegea	5,994	2001	4Q29 (13)
GSL Dorothea LLC	Liberia	GSL Dorothea	5,994	2001	4Q29 (13)
Drake Marine LLC	Marshall Islands	Ian H (19)	5,936	2000	4Q27
Global Ship Lease 68 LLC (3)	Liberia	GSL Kithira	5,470	2009	4Q27
Global Ship Lease 69 LLC (3)	Liberia	GSL Tripoli	5,470	2009	3Q27
Global Ship Lease 70 LLC (3)	Liberia	GSL Syros	5,470	2010	4Q27
Global Ship Lease 71 LLC (3)	Liberia	GSL Tinos	5,470	2010	3Q27
Zeus One Marine LLC	Marshall Islands	Orca I	5,308	2006	3Q28
Hephaestus Marine LLC	Marshall Islands	Dolphin II	5,095	2007	1Q28
Global Ship Lease 47 LLC	Liberia	GSL Château d’If	5,089	2007	4Q29 (14)
GSL Alcazar Inc.	Marshall Islands	CMA CGM Alcazar	5,089	2007	3Q29 (14)
Global Ship Lease 55 LLC	Liberia	GSL Susan	4,363	2008	3Q27
Global Ship Lease 50 LLC	Liberia	CMA CGM Jamaica	4,298	2006	1Q28
Global Ship Lease 49 LLC	Liberia	CMA CGM Sambhar	4,045	2006	1Q28
Global Ship Lease 51 LLC	Liberia	CMA CGM America	4,045	2006	1Q28
Global Ship Lease 57 LLC	Liberia	GSL Rossi	3,421	2012	1Q29
Global Ship Lease 58 LLC	Liberia	GSL Alice	3,421	2014	2Q28
Global Ship Lease 60 LLC	Liberia	GSL Eleftheria	3,421	2013	3Q28


Company Name ⁽¹⁾	Country of Incorporation	Vessel Name	Capacity in TEUs ⁽²⁾	Year Built	Earliest Charter Expiry Date
Global Ship Lease 59 LLC	Liberia	GSL Melina	3,421	2013	4Q29 (15)
Pericles Marine LLC	Marshall Islands	Athena I (ex Athena)	2,980	2003	2Q27 (16)
Global Ship Lease 61 LLC	Liberia	GSL Mercer	2,824	2007	1Q27
Global Ship Lease 62 LLC	Liberia	GSL Mamitsa	2,824	2007	1Q28
Global Ship Lease 63 LLC	Liberia	GSL Lalo	2,824	2006	2Q27
Global Ship Lease 42 LLC	Liberia	GSL Valerie	2,824	2005	2Q27
Global Ship Lease 64 LLC	Liberia	GSL Elizabeth	2,741	2006	3Q28 (17)
Athena Marine LLC	Marshall Islands	Newyorker	2,635	2001	2Q27
Aphrodite Marine LLC	Marshall Islands	Nikolas	2,635	2000	1Q27
Global Ship Lease 65 LLC	Liberia	GSL Chloe	2,546	2012	1Q27
Global Ship Lease 66 LLC	Liberia	GSL Maren	2,546	2014	2Q28 (18)
Aris Marine LLC	Marshall Islands	Maira	2,506	2000	1Q27
Global Ship Lease 38 LLC	Liberia	Manet (19)	2,288	2001	3Q26
Global Ship Lease 45 LLC	Liberia	Kumasi (19)	2,220	2002	4Q26
Global Ship Lease 41 LLC	Liberia	Julie (19)	2,207	2002	3Q27

(1) All subsidiaries are 100% owned, either directly or indirectly;

(2) Twenty-foot Equivalent Units;

(3) Currently, under a sale and leaseback transaction (see Note 2h);

(4) Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027;

(5) Sydney Express, Istanbul Express and Bremerhaven Express were delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option.12-month extension options were exercised in 3Q 2025 for Bremerhaven Express and Sydney Express. 12-month extension options were exercised in 2Q 2026 for Istanbul Express and Czech;

(6) MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed for 36 – 38 months with the new charters expected to commence between 3Q-4Q 2027. MSC Qingdao & Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”);

(7) GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence in 3Q 2026. During 2Q 2026, GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie were further forward fixed for 36 – 38 months plus optional period of 24 – 26 months to commence after drydocking. The new charter (firm period plus two-year option) may be cancelled by charterers at any time up to April 1, 2027;

(8) Lotus A, Koi and Cypress. The charters have flexible durations, with latest redeliveries in mid-2030;

(9) GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months;

(10) Colombia Express, Panama Express, Costa Rica Express, Nicaragua Express, Mexico Express, Jamaica Express. Firm charters are followed by two twelve-month extension periods at charterer’s option;

(11) Ateti (ex CMA CGM Berlioz) is fixed for 36 – 38 months. The charter commenced in 2Q 2026. On April 25, 2026, CMA CGM Berlioz was renamed to Ateti;

(12) GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months;

(13) GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. GSL Arcadia, GSL Violetta and GSL MYNY new charters commenced in 1Q 2026. The remaining new charters are expected to commence between 4Q 2026 and 1Q 2027;

(14) GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026;

(15) GSL Melina was forward fixed for 35 – 37 months. The new charter is expected to commence in 4Q 2026;

(16) Athena I. On June 14, 2026, Athena was renamed to Athena I;

(17) GSL Elizabeth was forward fixed for 24 – 27 months. The new charter is expected to commence in 3Q 2026 after drydocking;

(18) GSL Maren is fixed in direct continuation for 24 – 26 months. The charter commenced in 2Q 2026;

(19) During 2Q 2026, the Company entered into agreements for the forward sales of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters.

The following table provides information about the 15 under construction container vessels owned as at June 30, 2026.


Company Name (1)	Country of Incorporation	Expected Delivery
Global Ship Lease 83 LLC	Liberia	4Q28
Global Ship Lease 84 LLC	Liberia	2Q29
Global Ship Lease 93 LLC	Liberia	3Q29
Global Ship Lease 85 LLC	Liberia	2Q29
Global Ship Lease 86 LLC	Liberia	3Q29
Global Ship Lease 87 LLC	Liberia	3Q29
Global Ship Lease 88 LLC	Liberia	3Q29
Global Ship Lease 89 LLC	Liberia	4Q29
Global Ship Lease 90 LLC	Liberia	4Q29
Global Ship Lease 91 LLC	Liberia	4Q29
Global Ship Lease 92 LLC	Liberia	1Q30
Global Ship Lease 97 LLC	Liberia	1Q29
Global Ship Lease 98 LLC	Liberia	1Q29
Global Ship Lease 99 LLC	Liberia	2Q29
Global Ship Lease 100 LLC	Liberia	2Q29

(1) All subsidiaries are 100% owned, either directly or indirectly;

Inventories (Tables)

6 Months Ended

Jun. 30, 2026

Inventories [Abstract]

Components of Inventories

Inventories as at June 30, 2026, and December 31, 2025, consisted of the following:


		June 30, 2026		December 31, 2025
Bunkers	$	-	$	452
Lubricants		14,617		13,466
EUAs		7,067		86
Victualling		673		596
Total	$	22,357	$	14,600

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2026
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent events On August 5, 2026, the Company announced a dividend of $0.625 per Class A common share from the earnings of the second quarter of 2026, to be paid on September 3, 2026, to Class A common shareholders of record as of August 21, 2026.

Interim Unaudited Condensed Consolidated Statements of Income (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Vessel operating expenses - related party	$ 12,989	$ 11,466
Time charter and voyage expenses - related party	$ 4,477	$ 3,719

Earnings per Share

6 Months Ended

Jun. 30, 2026

Earnings per Share [Abstract]

Earnings per Share

12.

Earnings per Share

Under the two-class method, net income, if any, is first reduced by the amount of dividends declared in respect of common shares for the current period, if any, and the remaining earnings are allocated to common shares and participating securities to the extent that each security can share the earnings assuming all earnings for the period are distributed.

Earnings are only allocated to participating securities in a period of net income if, based on the contractual terms, the relevant common shareholders have an obligation to participate in such earnings. As a result, earnings are only allocated to the Class A common shareholders.


		Six months ended June 30,
		2026		2025
Numerator:
Net income available to common shareholders	$	180,737	$	214,063

Denominator:
Class A Common shares
Basic weighted average number of Class A common shares outstanding		36,005,151		35,598,601
Plus weighted average number of RSUs with service conditions		647,268		87,133
Common share and common share equivalents, dilutive		36,652,419		35,685,734

Basic earnings per share:
Class A		5.02		6.01

Diluted earnings per share:
Class A		4.93		6.00

Share Capital (Details)												1 Months Ended	6 Months Ended	12 Months Ended
Share Capital (Details)	May 22, 2026 USD ($)	Feb. 24, 2026 USD ($)	Nov. 21, 2025 USD ($)	Sep. 23, 2025 USD ($) $ / shares shares	Aug. 22, 2025 USD ($)	May 23, 2025 USD ($)	Feb. 24, 2025 USD ($)	Nov. 22, 2024 USD ($)	Aug. 23, 2024 USD ($)	May 24, 2024 USD ($)	Aug. 20, 2014 USD ($) $ / shares shares	Apr. 30, 2020 shares	Jun. 30, 2026 CommonStock $ / shares shares	Dec. 31, 2025 $ / shares shares	Dec. 31, 2024 $ / shares shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	May 11, 2026 $ / shares	Mar. 31, 2026 $ / shares	Feb. 10, 2026 $ / shares	Nov. 10, 2025 $ / shares	Aug. 05, 2025 $ / shares	Jun. 30, 2025 $ / shares	May 12, 2025 $ / shares	Mar. 31, 2025 $ / shares	Feb. 12, 2025 $ / shares	Nov. 11, 2024 $ / shares	Aug. 16, 2024 USD ($)	Aug. 05, 2024 $ / shares	May 10, 2024 $ / shares	Jul. 31, 2023 USD ($)
Common Class A [Member]
Share Capital [Abstract]
Number of classes of common shares \| CommonStock													1
Number of shares repurchased (in shares) \| shares													0	0	251,772	1,242,663
Common shares, shares outstanding (in Shares) \| shares													36,035,434	35,913,628
Increase of dividend declared per share (in Dollars per share)																						$ 0.1
Common Class A [Member] \| Maximum [Member]
Share Capital [Abstract]
Authorized amount of shares repurchse \| $																																$ 40,000,000
Series B Preferred Stock [Member]
Share Capital [Abstract]
Shares issued to depositary shares (in Shares) \| shares											1,400,000
Depositary share conversion ratio \| Pure											0.0001
Preferred stock, dividend rate											8.75%
Preferred stock, shares issued (in Shares) \| shares											14,000		43,592	43,592
Preferred shares, par value (in Dollars per share)											$ 0.01		$ 0.01	$ 0.01						$ 0.01				$ 0.01		$ 0.01
Preferred stock, liquidation price per share (in Dollars per share)											2,500
Depositary share liquidation preference per share (in Dollars per share)											$ 25
Depositary share issued, price per share (in Dollars per share)													25
Net proceeds from issuance of preferred shares \| $											$ 33,497,000
Preferred stock redemption period after occurrence of fundamental change											180 days
Preferred stock, redemption price per share (in Dollars per share)													2,500
Depositary share redemption price per share (in Dollars per share)													$ 25
Desositary shares outstanding (in Shares) \| shares													4,359,190
Preferred stock, shares outstanding (in Shares) \| shares													43,592	43,592
Prior Common Share ATM Program [Member] \| Common Class A [Member]
Share Capital [Abstract]
Aggregate offering price \| $				$ 100,000,000
Shares issued (in Shares) \| shares															27,106
Shares issued, price per share (in Dollars per share)				$ 0.01											$ 27.02
Amount of remaining capacity under the program \| $				$ 99,277,000
Prior Common Share ATM Program [Member] \| Common Class A [Member] \| Maximum [Member]
Share Capital [Abstract]
Aggregate offering price \| $				$ 100,000,000																									$ 100,000,000
ATM Agreement [Member] \| Maximum [Member]
Share Capital [Abstract]
Number of depositary shares authorized (in Shares) \| shares				150,000,000
O 2024 Q1 Dividend [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													May 10, 2024
Dividend declared per share (in Dollars per share)																															$ 0.375
Dividends payable date													Jun. 03, 2024
Dividends record date													May 24, 2024
Dividends paid \| $										$ 13,255,000
O 2024-Q2 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													Aug. 05, 2024
Dividend declared per share (in Dollars per share)																														$ 0.45
Dividends payable date													Sep. 04, 2024
Dividends record date													Aug. 23, 2024
Dividends paid \| $									$ 15,965,000
O 2024-Q3 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													Nov. 11, 2024
Dividend declared per share (in Dollars per share)																												$ 0.45
Dividends payable date													Dec. 04, 2024
Dividends record date													Nov. 22, 2024
Dividends paid \| $								$ 16,004,000
O 2024-Q4 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													Feb. 12, 2025
Dividend declared per share (in Dollars per share)																											$ 0.45
Dividends payable date													Mar. 06, 2025
Dividends record date													Feb. 24, 2025
Dividends paid \| $							$ 16,043,000
O 2025-Q1 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													May 12, 2025
Dividend declared per share (in Dollars per share)																									$ 0.525
Dividends payable date													Jun. 03, 2025
Dividends record date													May 23, 2025
Dividends paid \| $						$ 18,763,000
O 2025-Q2 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													Aug. 05, 2025
Dividend declared per share (in Dollars per share)																							$ 0.525
Dividends payable date													Sep. 04, 2025
Dividends record date													Aug. 22, 2025
Dividends paid \| $					$ 18,809,000
O 2025-Q3 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													Nov. 10, 2025
Dividend declared per share (in Dollars per share)																						$ 0.625
Dividends payable date													Dec. 04, 2025
Dividends record date													Nov. 21, 2025
Dividends paid \| $			$ 22,446,000
O 2025-Q4 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													Feb. 10, 2026
Dividend declared per share (in Dollars per share)																					$ 0.625
Dividends payable date													Mar. 06, 2026
Dividends record date													Feb. 24, 2026
Dividends paid \| $		$ 22,484,000
O 2026-Q1 Dividends [Member] \| Common Class A [Member]
Share Capital [Abstract]
Dividends declared date													May 11, 2026
Dividend declared per share (in Dollars per share)																			$ 0.625
Dividends payable date													Jun. 03, 2026
Dividends record date													May 22, 2026
Dividends paid \| $	$ 22,522,000
2019 Omnibus Incentive Plan [Member] \| Common Class A [Member]
Share Capital [Abstract]
Share-based payment, shares issued (in Shares) \| shares												184,270		466,258	483,713	440,698	586,819	747,604

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies [Abstract]

Minimum Contracted Future Charter Hire Receivable

The minimum contracted future charter hire receivable, net of address commissions, not allowing for any unscheduled off-hire, assuming expiry at earliest possible dates and assuming options callable by the Company included in the charters are not exercised, for the 71 vessels and for the 15 container vessels under construction as at June 30, 2026 is as follows:


Period ending		Amount
June 30, 2027	$	764,493
June 30, 2028		548,313
June 30, 2029		295,408
June 30, 2030		270,186
June 30, 2031 and thereafter		1,202,790
Total minimum lease revenue, net of address commissions	$	3,081,190

Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings per Share [Abstract]

Earnings per Share

As a result, earnings are only allocated to the Class A common shareholders.


		Six months ended June 30,
		2026		2025
Numerator:
Net income available to common shareholders	$	180,737	$	214,063

Denominator:
Class A Common shares
Basic weighted average number of Class A common shares outstanding		36,005,151		35,598,601
Plus weighted average number of RSUs with service conditions		647,268		87,133
Common share and common share equivalents, dilutive		36,652,419		35,685,734

Basic earnings per share:
Class A		5.02		6.01

Diluted earnings per share:
Class A		4.93		6.00

Summary of Significant Accounting Policies and Disclosures (Details) € in Thousands, $ in Thousands		6 Months Ended		12 Months Ended
	Feb. 28, 2022 USD ($) DerivativeInstruments	Jun. 30, 2026 USD ($) Segment $ / T	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2024 USD ($)	Apr. 04, 2024 EUR (€) € / item
Summary of Significant Accounting Policies and Disclosures [Abstract]
Interest costs capitalized		$ 0	$ 0
Useful life of vessels		30 years
Estimated residual scrap value of vessels per lightweight ton (in Dollars per US Ton) \| $ / T		400
Transfer of disposal group asset is expected to qualify for recognition,completion of sale period		1 year
Period of finite lived asset impairment test		4 years
Impairment of vessels			0	$ 0
Gain (loss) due to modification of time charter		$ (4,425)	(2,738)
Other current assets		9,807		12,643
Other non current assets		8,079		10,344
Current laibility from straight-line basis		4,770		8,624
Non-current laibility from straight-line basis		$ 6,968		3,797
Number of reportable segments (in Segment) \| Segment		1
Number of operating segments (in Segment) \| Segment		1
Fair value adjustments of derivative asset		$ (1,113)	(2,831)	(4,952)
Amount of foreign exchange reverse convertible transactions		33,000		0
Amount of matured foreign exchange reverse convertible transactions		(12,000)		0
Derivative assets		22,954		5,234		$ 20,406
Fair value adjustment on FX Reverse Convertible instruments		$ (73)	0	0
Interest Rate Cap [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Term of variable rate		1 month
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	LIBOR [Member]	SOFR [Member]
Interest rate caps		0.64%
Fair value adjustments of derivative asset		$ (1,113)	$ (2,831)
Percentage of outstanding floating debt		38.00%
Foreign Exchange Option [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Notional amount \| €							€ 3,000
Foreign currency option strike price (in Euro per Item) \| € / item							1.1
Derivative assets		$ 20,986		$ 0
Designated As Hedging Instrument [Member] \| Interest Rate Cap [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Notional amount	$ 253,946				$ 484,106
Term of variable rate					1 month
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]					LIBOR [Member]
Interest rate caps					0.75%
Not Designated as Hedging Instrument [Member] \| Interest Rate Cap [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Notional amount	$ 507,891
Number of derivatives purchased (in DerivativeInstruments) \| DerivativeInstruments	2
Term of variable rate	1 month
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	LIBOR [Member]
Interest rate caps	0.75%
Vessels Sale Agreement [Member] \| Ian H, Manet, Kumasi and Julie [Member]
Summary of Significant Accounting Policies and Disclosures [Abstract]
Property Plant and Equipment Sale Price		$ 65,500

Interim Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net Income	$ 185,505	$ 218,831
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	67,661	60,121
Gain on sale of vessels	0	(28,343)
Amortization of derivative assets’ premium	1,048	1,949
Amortization of deferred financing costs	1,239	2,257
Amortization of original issue discount on instruments	(513)	0
Amortization of intangible liabilities - charter agreements	(12,672)	(6,533)
Fair value adjustment on derivative asset and other financial instruments	1,127	2,831
Prepayment fees on debt repayment	0	175
Stock-based compensation expense	10,998	4,244
Changes in operating assets and liabilities:
Decrease/(increase) in accounts receivable and other assets	14,793	(10,242)
(Increase)/decrease in inventories	(7,757)	825
Increase in derivative asset and other financial instruments	(21,000)	(194)
Increase in accounts payable and other liabilities	2,796	13,740
Increase in related parties' balances, net	(1,112)	(504)
Decrease in deferred revenue	(16,725)	(10,006)
Payments for drydocking and special survey costs	(18,766)	(27,104)
Unrealized foreign exchange gain	(3)	0
Net cash provided by operating activities	206,619	222,047
Cash flows from investing activities:
Acquisition of vessels	0	(61,541)
Cash paid for vessel expenditures	(1,574)	(9,799)
Advances for vessels acquisitions, vessels under construction and other additions	(125,225)	(2,348)
Net proceeds from sale of vessels	0	53,483
Time deposits withdrawn	88,650	11,150
Net cash used in investing activities	(38,149)	(9,055)
Cash flows from financing activities:
Proceeds from drawdown of credit facilities and sale and leaseback	55,500	218,500
Repayment of credit facilities and sale and leaseback	(73,783)	(70,889)
Prepayment of debt, including prepayment fees	0	(70,393)
Deferred financing costs paid	(333)	(2,185)
Class A common shares - dividend paid	(45,006)	(34,806)
Series B Preferred Shares - dividend paid	(4,768)	(4,768)
Net cash (used in)/provided by financing activities	(68,390)	35,459
Net increase in cash and cash equivalents and restricted cash	100,080	248,451
Cash and cash equivalents and restricted cash at beginning of the period	339,340	247,624
Cash and cash equivalents and restricted cash at end of the period	439,420	496,075
Supplementary Cash Flow Information:
Cash paid for interest	20,035	23,061
Cash received from interest rate caps	4,067	9,133
Non-cash investing activities:
Acquisition of intangibles	19,061	15,987
Non-cash financing activities:
Unrealized loss on derivative assets/FX option	$ (2,153)	$ (5,960)

Description of Business - Owned Container Vessels (Details)

6 Months Ended

Jun. 30, 2026

TEU

Operating Container Vessels [Member] | Global Ship Lease 54 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

CMA CGM Thalassa

^[1]

Capacity in TEUs

11,040

^[1],[2]

Year Built

2008

^[1]

Earliest Charter Expiry Date

3Q28

^[1]

Operating Container Vessels [Member] | Laertis Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Zim Norfolk

^[1]

Capacity in TEUs

9,115

^[1],[2]

Year Built

2015

^[1]

Earliest Charter Expiry Date

2Q32 (4)

^[1],[3]

Operating Container Vessels [Member] | Penelope Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Zim Xiamen

^[1]

Capacity in TEUs

9,115

^[1],[2]

Year Built

2015

^[1]

Earliest Charter Expiry Date

3Q32 (4)

^[1],[3]

Operating Container Vessels [Member] | Telemachus Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Anthea Y

^[1]

Capacity in TEUs

9,115

^[1],[2]

Year Built

2015

^[1]

Earliest Charter Expiry Date

4Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 78 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

Sydney Express

^[1],[4]

Capacity in TEUs

9,019

^[1],[2],[4]

Year Built

2016

^[1],[4]

Earliest Charter Expiry Date

3Q27 (5)

^[1],[4]

Operating Container Vessels [Member] | Global Ship Lease 79 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

Istanbul Express

^[1],[4]

Capacity in TEUs

9,019

^[1],[2],[4]

Year Built

2016

^[1],[4]

Earliest Charter Expiry Date

1Q28 (5)

^[1],[4],[5]

Operating Container Vessels [Member] | Global Ship Lease 77 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

Bremerhaven Express

^[1],[4]

Capacity in TEUs

9,019

^[1],[2],[4]

Year Built

2015

^[1],[4]

Earliest Charter Expiry Date

2Q27 (5)

^[1],[4],[5]

Operating Container Vessels [Member] | Global Ship Lease 76 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

Czech

^[1],[4]

Capacity in TEUs

9,019

^[1],[2],[4]

Year Built

2015

^[1],[4]

Earliest Charter Expiry Date

2Q28 (5)

^[1],[4],[5]

Operating Container Vessels [Member] | Global Ship Lease 53 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

MSC Tianjin

^[1]

Capacity in TEUs

8,603

^[1],[2]

Year Built

2005

^[1]

Earliest Charter Expiry Date

3Q30 (6)

^[1],[6]

Operating Container Vessels [Member] | Global Ship Lease 52 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

MSC Qingdao

^[1]

Capacity in TEUs

8,603

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

4Q30 (6)

^[1],[6]

Operating Container Vessels [Member] | Global Ship Lease 43 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Ningbo

^[1]

Capacity in TEUs

8,603

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

3Q30 (6)

^[1],[6]

Operating Container Vessels [Member] | Global Ship Lease 72 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Alexandra

^[1]

Capacity in TEUs

8,599

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

3Q28 (7)

^[1],[7]

Operating Container Vessels [Member] | Global Ship Lease 73 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Sofia

^[1]

Capacity in TEUs

8,599

^[1],[2]

Year Built

2003

^[1]

Earliest Charter Expiry Date

2Q28 (7)

^[1],[7]

Operating Container Vessels [Member] | Global Ship Lease 74 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Effie

^[1]

Capacity in TEUs

8,599

^[1],[2]

Year Built

2003

^[1]

Earliest Charter Expiry Date

3Q28 (7)

^[1],[7]

Operating Container Vessels [Member] | Global Ship Lease 75 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Lydia

^[1]

Capacity in TEUs

8,599

^[1],[2]

Year Built

2003

^[1]

Earliest Charter Expiry Date

1Q28 (7)

^[1],[7]

Operating Container Vessels [Member] | Global Ship Lease 80 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Lotus A

^[1]

Capacity in TEUs

8,586

^[1],[2]

Year Built

2010

^[1]

Earliest Charter Expiry Date

4Q26 (8)

^[1],[8]

Operating Container Vessels [Member] | Global Ship Lease 81 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Koi

^[1]

Capacity in TEUs

8,586

^[1],[2]

Year Built

2011

^[1]

Earliest Charter Expiry Date

4Q26 (8)

^[1],[8]

Operating Container Vessels [Member] | Global Ship Lease 82 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Cypress

^[1]

Capacity in TEUs

8,586

^[1],[2]

Year Built

2011

^[1]

Earliest Charter Expiry Date

4Q26 (8)

^[1],[8]

Operating Container Vessels [Member] | Global Ship Lease 30 Limited [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Eleni

^[1]

Capacity in TEUs

7,847

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

4Q27 (9)

^[1],[9]

Operating Container Vessels [Member] | Global Ship Lease 31 Limited [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Kalliopi

^[1]

Capacity in TEUs

7,847

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

1Q28 (9)

^[1],[9]

Operating Container Vessels [Member] | Global Ship Lease 32 Limited [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Grania

^[1]

Capacity in TEUs

7,847

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

1Q28 (9)

^[1],[9]

Operating Container Vessels [Member] | Alexander Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Colombia Express

^[1]

Capacity in TEUs

7,072

^[1],[2]

Year Built

2013

^[1]

Earliest Charter Expiry Date

4Q28 (10)

^[1],[10]

Operating Container Vessels [Member] | Hector Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Panama Express

^[1]

Capacity in TEUs

7,072

^[1],[2]

Year Built

2013

^[1]

Earliest Charter Expiry Date

4Q29 (10)

^[1],[10]

Operating Container Vessels [Member] | Ikaros Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Costa Rica Express

^[1]

Capacity in TEUs

7,072

^[1],[2]

Year Built

2013

^[1]

Earliest Charter Expiry Date

2Q29 (10)

^[1],[10]

Operating Container Vessels [Member] | Philippos Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Nicaragua Express

^[1]

Capacity in TEUs

7,072

^[1],[2]

Year Built

2013

^[1]

Earliest Charter Expiry Date

3Q29 (10)

^[1],[10]

Operating Container Vessels [Member] | Global Ship Lease 48 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Ateti (ex CMA CGM Berlioz) (11)

^[1],[11]

Capacity in TEUs

7,023

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

2Q29 (11)

^[1],[11]

Operating Container Vessels [Member] | Aristoteles Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Mexico Express

^[1]

Capacity in TEUs

6,918

^[1],[2]

Year Built

2015

^[1]

Earliest Charter Expiry Date

3Q29 (10)

^[1],[10]

Operating Container Vessels [Member] | Menelaos Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Jamaica Express

^[1]

Capacity in TEUs

6,918

^[1],[2]

Year Built

2015

^[1]

Earliest Charter Expiry Date

3Q29 (10)

^[1],[10]

Operating Container Vessels [Member] | Global Ship Lease 35 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Nicoletta

^[1]

Capacity in TEUs

6,858

^[1],[2]

Year Built

2002

^[1]

Earliest Charter Expiry Date

1Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 36 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Christen

^[1]

Capacity in TEUs

6,858

^[1],[2]

Year Built

2002

^[1]

Earliest Charter Expiry Date

4Q27

^[1]

Operating Container Vessels [Member] | Leonidas Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Agios Dimitrios

^[1]

Capacity in TEUs

6,572

^[1],[2]

Year Built

2011

^[1]

Earliest Charter Expiry Date

3Q30 (6)

^[1],[6]

Operating Container Vessels [Member] | Global Ship Lease 33 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Vinia

^[1]

Capacity in TEUs

6,080

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

1Q28 (12)

^[1],[12]

Operating Container Vessels [Member] | Global Ship Lease 34 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Christel Elisabeth

^[1]

Capacity in TEUs

6,080

^[1],[2]

Year Built

2004

^[1]

Earliest Charter Expiry Date

1Q28 (12)

^[1],[12]

Operating Container Vessels [Member] | GSL Arcadia LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Arcadia

^[1]

Capacity in TEUs

6,008

^[1],[2]

Year Built

2000

^[1]

Earliest Charter Expiry Date

1Q29 (13)

^[1],[13]

Operating Container Vessels [Member] | GSL Melita LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Melita

^[1]

Capacity in TEUs

6,008

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

4Q29 (13)

^[1],[13]

Operating Container Vessels [Member] | GSL Maria LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Maria

^[1]

Capacity in TEUs

6,008

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

1Q30 (13)

^[1],[13]

Operating Container Vessels [Member] | GSL Violetta LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Violetta

^[1]

Capacity in TEUs

6,008

^[1],[2]

Year Built

2000

^[1]

Earliest Charter Expiry Date

1Q29 (13)

^[1],[13]

Operating Container Vessels [Member] | GSL MYNY LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL MYNY

^[1]

Capacity in TEUs

6,008

^[1],[2]

Year Built

2000

^[1]

Earliest Charter Expiry Date

1Q29 (13)

^[1],[13]

Operating Container Vessels [Member] | GSL Tegea LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Tegea

^[1]

Capacity in TEUs

5,994

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

4Q29 (13)

^[1],[13]

Operating Container Vessels [Member] | GSL Dorothea LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Dorothea

^[1]

Capacity in TEUs

5,994

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

4Q29 (13)

^[1],[13]

Operating Container Vessels [Member] | Drake Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Ian H (19)

^[1],[14]

Capacity in TEUs

5,936

^[1],[2]

Year Built

2000

^[1]

Earliest Charter Expiry Date

4Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 68 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

GSL Kithira

^[1],[4]

Capacity in TEUs

5,470

^[1],[2],[4]

Year Built

2009

^[1],[4]

Earliest Charter Expiry Date

4Q27

^[1],[4]

Operating Container Vessels [Member] | Global Ship Lease 69 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

GSL Tripoli

^[1],[4]

Capacity in TEUs

5,470

^[1],[2],[4]

Year Built

2009

^[1],[4]

Earliest Charter Expiry Date

3Q27

^[1],[4]

Operating Container Vessels [Member] | Global Ship Lease 70 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

GSL Syros

^[1],[4]

Capacity in TEUs

5,470

^[1],[2],[4]

Year Built

2010

^[1],[4]

Earliest Charter Expiry Date

4Q27

^[1],[4]

Operating Container Vessels [Member] | Global Ship Lease 71 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1],[4]

Vessel Name

GSL Tinos

^[1],[4]

Capacity in TEUs

5,470

^[1],[2],[4]

Year Built

2010

^[1],[4]

Earliest Charter Expiry Date

3Q27

^[1],[4]

Operating Container Vessels [Member] | Zeus One Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Orca I

^[1]

Capacity in TEUs

5,308

^[1],[2]

Year Built

2006

^[1]

Earliest Charter Expiry Date

3Q28

^[1]

Operating Container Vessels [Member] | Hephaestus Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Dolphin II

^[1]

Capacity in TEUs

5,095

^[1],[2]

Year Built

2007

^[1]

Earliest Charter Expiry Date

1Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 47 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Château d’If

^[1]

Capacity in TEUs

5,089

^[1],[2]

Year Built

2007

^[1]

Earliest Charter Expiry Date

4Q29 (14)

^[1],[15]

Operating Container Vessels [Member] | GSL Alcazar Inc. [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

CMA CGM Alcazar

^[1]

Capacity in TEUs

5,089

^[1],[2]

Year Built

2007

^[1]

Earliest Charter Expiry Date

3Q29 (14)

^[1],[15]

Operating Container Vessels [Member] | Global Ship Lease 55 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Susan

^[1]

Capacity in TEUs

4,363

^[1],[2]

Year Built

2008

^[1]

Earliest Charter Expiry Date

3Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 50 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

CMA CGM Jamaica

^[1]

Capacity in TEUs

4,298

^[1],[2]

Year Built

2006

^[1]

Earliest Charter Expiry Date

1Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 49 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

CMA CGM Sambhar

^[1]

Capacity in TEUs

4,045

^[1],[2]

Year Built

2006

^[1]

Earliest Charter Expiry Date

1Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 51 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

CMA CGM America

^[1]

Capacity in TEUs

4,045

^[1],[2]

Year Built

2006

^[1]

Earliest Charter Expiry Date

1Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 57 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Rossi

^[1]

Capacity in TEUs

3,421

^[1],[2]

Year Built

2012

^[1]

Earliest Charter Expiry Date

1Q29

^[1]

Operating Container Vessels [Member] | Global Ship Lease 58 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Alice

^[1]

Capacity in TEUs

3,421

^[1],[2]

Year Built

2014

^[1]

Earliest Charter Expiry Date

2Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 60 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Eleftheria

^[1]

Capacity in TEUs

3,421

^[1],[2]

Year Built

2013

^[1]

Earliest Charter Expiry Date

3Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 59 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Melina

^[1]

Capacity in TEUs

3,421

^[1],[2]

Year Built

2013

^[1]

Earliest Charter Expiry Date

4Q29 (15)

^[1],[16]

Operating Container Vessels [Member] | Pericles Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Athena I (ex Athena)

^[1]

Capacity in TEUs

2,980

^[1],[2]

Year Built

2003

^[1]

Earliest Charter Expiry Date

2Q27 (16)

^[1],[17]

Operating Container Vessels [Member] | Global Ship Lease 61 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Mercer

^[1]

Capacity in TEUs

2,824

^[1],[2]

Year Built

2007

^[1]

Earliest Charter Expiry Date

1Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 62 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Mamitsa

^[1]

Capacity in TEUs

2,824

^[1],[2]

Year Built

2007

^[1]

Earliest Charter Expiry Date

1Q28

^[1]

Operating Container Vessels [Member] | Global Ship Lease 63 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Lalo

^[1]

Capacity in TEUs

2,824

^[1],[2]

Year Built

2006

^[1]

Earliest Charter Expiry Date

2Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 42 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Valerie

^[1]

Capacity in TEUs

2,824

^[1],[2]

Year Built

2005

^[1]

Earliest Charter Expiry Date

2Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 64 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Elizabeth

^[1]

Capacity in TEUs

2,741

^[1],[2]

Year Built

2006

^[1]

Earliest Charter Expiry Date

3Q28 (17)

^[1],[18]

Operating Container Vessels [Member] | Athena Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Newyorker

^[1]

Capacity in TEUs

2,635

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

2Q27

^[1]

Operating Container Vessels [Member] | Aphrodite Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Nikolas

^[1]

Capacity in TEUs

2,635

^[1],[2]

Year Built

2000

^[1]

Earliest Charter Expiry Date

1Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 65 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Chloe

^[1]

Capacity in TEUs

2,546

^[1],[2]

Year Built

2012

^[1]

Earliest Charter Expiry Date

1Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 66 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

GSL Maren

^[1]

Capacity in TEUs

2,546

^[1],[2]

Year Built

2014

^[1]

Earliest Charter Expiry Date

2Q28 (18)

^[1],[19]

Operating Container Vessels [Member] | Aris Marine LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Maira

^[1]

Capacity in TEUs

2,506

^[1],[2]

Year Built

2000

^[1]

Earliest Charter Expiry Date

1Q27

^[1]

Operating Container Vessels [Member] | Global Ship Lease 38 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Manet (19)

^[1],[14]

Capacity in TEUs

2,288

^[1],[2]

Year Built

2001

^[1]

Earliest Charter Expiry Date

3Q26

^[1]

Operating Container Vessels [Member] | Global Ship Lease 45 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Kumasi (19)

^[1],[14]

Capacity in TEUs

2,220

^[1],[2]

Year Built

2002

^[1]

Earliest Charter Expiry Date

4Q26

^[1]

Operating Container Vessels [Member] | Global Ship Lease 41 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

^[1]

Vessel Name

Julie (19)

^[1],[14]

Capacity in TEUs

2,207

^[1],[2]

Year Built

2002

^[1]

Earliest Charter Expiry Date

3Q27

^[1]

Under Construction Container Vessels [Member] | Global Ship Lease 83 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

4Q28

Under Construction Container Vessels [Member] | Global Ship Lease 84 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

2Q29

Under Construction Container Vessels [Member] | Global Ship Lease 93 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

3Q29

Under Construction Container Vessels [Member] | Global Ship Lease 85 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

2Q29

Under Construction Container Vessels [Member] | Global Ship Lease 86 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

3Q29

Under Construction Container Vessels [Member] | Global Ship Lease 87 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

3Q29

Under Construction Container Vessels [Member] | Global Ship Lease 88 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

3Q29

Under Construction Container Vessels [Member] | Global Ship Lease 89 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

4Q29

Under Construction Container Vessels [Member] | Global Ship Lease 90 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

4Q29

Under Construction Container Vessels [Member] | Global Ship Lease 91 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

4Q29

Under Construction Container Vessels [Member] | Global Ship Lease 92 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

1Q30

Under Construction Container Vessels [Member] | Global Ship Lease 97 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

1Q29

Under Construction Container Vessels [Member] | Global Ship Lease 98 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

1Q29

Under Construction Container Vessels [Member] | Global Ship Lease 99 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

2Q29

Under Construction Container Vessels [Member] | Global Ship Lease 100 LLC [Member]

Description of Business [Abstract]

Country of Incorporation

Earliest Charter Expiry Date

2Q29

[1]	All subsidiaries are 100% owned, either directly or indirectly;
[2]	Twenty-foot Equivalent Units;
[3]	Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027;
[4]	Currently, under a sale and leaseback transaction (see Note 2h);
[5]	Sydney Express, Istanbul Express and Bremerhaven Express were delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option.12-month extension options were exercised in 3Q 2025 for Bremerhaven Express and Sydney Express. 12-month extension options were exercised in 2Q 2026 for Istanbul Express and Czech;
[6]	MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed for 36 – 38 months with the new charters expected to commence between 3Q-4Q 2027. MSC Qingdao & Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”);
[7]	GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence in 3Q 2026. During 2Q 2026, GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie were further forward fixed for 36 – 38 months plus optional period of 24 – 26 months to commence after drydocking. The new charter (firm period plus two-year option) may be cancelled by charterers at any time up to April 1, 2027;
[8]	Lotus A, Koi and Cypress. The charters have flexible durations, with latest redeliveries in mid-2030;
[9]	GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months;
[10]	Colombia Express, Panama Express, Costa Rica Express, Nicaragua Express, Mexico Express, Jamaica Express. Firm charters are followed by two twelve-month extension periods at charterer’s option;
[11]	Ateti (ex CMA CGM Berlioz) is fixed for 36 – 38 months. The charter commenced in 2Q 2026. On April 25, 2026, CMA CGM Berlioz was renamed to Ateti;
[12]	GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months;
[13]	GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. GSL Arcadia, GSL Violetta and GSL MYNY new charters commenced in 1Q 2026. The remaining new charters are expected to commence between 4Q 2026 and 1Q 2027;
[14]	During 2Q 2026, the Company entered into agreements for the forward sales of four ships, Ian H, Manet, Kumasi and Julie, for an aggregate sale price of $65,500. The ships are scheduled to be delivered to buyers upon expiry of their respective charters.
[15]	GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026;
[16]	GSL Melina was forward fixed for 35 – 37 months. The new charter is expected to commence in 4Q 2026;
[17]	Athena I. On June 14, 2026, Athena was renamed to Athena I;
[18]	GSL Elizabeth was forward fixed for 24 – 27 months. The new charter is expected to commence in 3Q 2026 after drydocking;
[19]	GSL Maren is fixed in direct continuation for 24 – 26 months. The charter commenced in 2Q 2026;

Description of Business

6 Months Ended

Jun. 30, 2026

Description of Business [Abstract]

Description of Business

The Company’s business is to own and charter out containerships to leading liner companies.

On August 14, 2008, Global Ship Lease, Inc. (the “Company”) merged indirectly with Marathon Acquisition Corp., a company then listed on The American Stock Exchange, and with the pre-existing Global Ship Lease, Inc. GSL Holdings, Inc., the surviving entity (the “Marathon Merger”), changed its name to Global Ship Lease, Inc. and became listed on The New York Stock Exchange (the “NYSE”).

On November 15, 2018, the Company completed a transformative transaction and acquired Poseidon Containers’ 20 containerships, one of which, the Argos, was contracted to be sold, which sale was completed in December 2018 (the “Poseidon Transaction”).

In 2021, the Company purchased 23 vessels. The Company purchased seven containerships of approximately 6,000 TEU each, 12 containerships from Borealis Finance LLC (the “Twelve Vessels”) and four 5,470 TEU Panamax containerships (the “Four Vessels”). Also on June 30, 2021, vessel La Tour was sold.

During the second quarter of 2023, the Company purchased four 8,544 TEU vessels for an aggregate purchase price of $123,300, which were delivered on various dates in May and June 2023. Also on March 23, 2023, GSL Amstel was sold.

During the fourth quarter of 2024, the Company agreed to purchase four high-reefer ECO 9,019 TEU containerships (the “ECO 9,019 TEU Vessels”) for an aggregate price of $273,891, of which three were delivered on various dates in December 2024.

During the first quarter of 2025, the fourth ECO 9,019 TEU Vessel was delivered in January 2025, and the Company sold also three vessels Tasman, Keta and Akiteta. In May 2025, Dimitris Y was contracted to be sold and was delivered to the buyers on October 13, 2025 (see Note 4). During the fourth quarter of 2025, the Company also agreed to purchase three ECO 8,586 TEU containerships (the “ECO 8,586 TEU Vessels”) for an aggregate purchase price of $90,000, of which two were delivered on various dates in December 2025 and the third one on January 9, 2026.

During the second quarter of 2026, the Company agreed individual newbuilding contracts for 15 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships for an aggregate purchase price of approximately $1,329,863. As of June 30, 2026, the Company had a total of 15 container vessels under construction, with scheduled deliveries between fourth quarter 2028 and first quarter 2030.

Following the above-mentioned additions and the sale of vessels up to June 30, 2026, the Company’s fleet comprises (i) 71 operating containerships with average age as at June 30, 2026, weighted by TEU capacity, of 18.4 years, and (ii) 15 under construction container vessels.

The following table provides information about the 71 operating container vessels owned as at June 30, 2026.


Company Name ⁽¹⁾	Country of Incorporation	Vessel Name	Capacity in TEUs (2)	Year Built	Earliest Charter Expiry Date
Global Ship Lease 54 LLC	Liberia	CMA CGM Thalassa	11,040	2008	3Q28
Laertis Marine LLC	Marshall Islands	Zim Norfolk	9,115	2015	2Q32 (4)
Penelope Marine LLC	Marshall Islands	Zim Xiamen	9,115	2015	3Q32 (4)
Telemachus Marine LLC	Marshall Islands	Anthea Y	9,115	2015	4Q28
Global Ship Lease 78 LLC (3)	Liberia	Sydney Express	9,019	2016	3Q27 (5)
Global Ship Lease 79 LLC (3)	Liberia	Istanbul Express	9,019	2016	1Q28 (5)
Global Ship Lease 77 LLC (3)	Liberia	Bremerhaven Express	9,019	2015	2Q27 (5)
Global Ship Lease 76 LLC (3)	Liberia	Czech	9,019	2015	2Q28 (5)
Global Ship Lease 53 LLC	Liberia	MSC Tianjin	8,603	2005	3Q30 (6)
Global Ship Lease 52 LLC	Liberia	MSC Qingdao	8,603	2004	4Q30 (6)
Global Ship Lease 43 LLC	Liberia	GSL Ningbo	8,603	2004	3Q30 (6)
Global Ship Lease 72 LLC	Liberia	GSL Alexandra	8,599	2004	3Q28 (7)
Global Ship Lease 73 LLC	Liberia	GSL Sofia	8,599	2003	2Q28 (7)
Global Ship Lease 74 LLC	Liberia	GSL Effie	8,599	2003	3Q28 (7)
Global Ship Lease 75 LLC	Liberia	GSL Lydia	8,599	2003	1Q28 (7)
Global Ship Lease 80 LLC	Liberia	Lotus A	8,586	2010	4Q26 (8)
Global Ship Lease 81 LLC	Liberia	Koi	8,586	2011	4Q26 (8)
Global Ship Lease 82 LLC	Liberia	Cypress	8,586	2011	4Q26 (8)
Global Ship Lease 30 Limited	Marshall Islands	GSL Eleni	7,847	2004	4Q27 (9)
Global Ship Lease 31 Limited	Marshall Islands	GSL Kalliopi	7,847	2004	1Q28 (9)
Global Ship Lease 32 Limited	Marshall Islands	GSL Grania	7,847	2004	1Q28 (9)
Alexander Marine LLC	Marshall Islands	Colombia Express	7,072	2013	4Q28 (10)
Hector Marine LLC	Marshall Islands	Panama Express	7,072	2013	4Q29 (10)
Ikaros Marine LLC	Marshall Islands	Costa Rica Express	7,072	2013	2Q29 (10)
Philippos Marine LLC	Marshall Islands	Nicaragua Express	7,072	2013	3Q29 (10)
Global Ship Lease 48 LLC	Liberia	Ateti (ex CMA CGM Berlioz) (11)	7,023	2001	2Q29 (11)
Aristoteles Marine LLC	Marshall Islands	Mexico Express	6,918	2015	3Q29 (10)
Menelaos Marine LLC	Marshall Islands	Jamaica Express	6,918	2015	3Q29 (10)
Global Ship Lease 35 LLC	Liberia	GSL Nicoletta	6,858	2002	1Q28
Global Ship Lease 36 LLC	Liberia	GSL Christen	6,858	2002	4Q27
Leonidas Marine LLC	Marshall Islands	Agios Dimitrios	6,572	2011	3Q30 (6)
Global Ship Lease 33 LLC	Liberia	GSL Vinia	6,080	2004	1Q28 (12)
Global Ship Lease 34 LLC	Liberia	GSL Christel Elisabeth	6,080	2004	1Q28 (12)
GSL Arcadia LLC	Liberia	GSL Arcadia	6,008	2000	1Q29 (13)
GSL Melita LLC	Liberia	GSL Melita	6,008	2001	4Q29 (13)
GSL Maria LLC	Liberia	GSL Maria	6,008	2001	1Q30 (13)
GSL Violetta LLC	Liberia	GSL Violetta	6,008	2000	1Q29 (13)
GSL MYNY LLC	Liberia	GSL MYNY	6,008	2000	1Q29 (13)
GSL Tegea LLC	Liberia	GSL Tegea	5,994	2001	4Q29 (13)
GSL Dorothea LLC	Liberia	GSL Dorothea	5,994	2001	4Q29 (13)
Drake Marine LLC	Marshall Islands	Ian H (19)	5,936	2000	4Q27
Global Ship Lease 68 LLC (3)	Liberia	GSL Kithira	5,470	2009	4Q27
Global Ship Lease 69 LLC (3)	Liberia	GSL Tripoli	5,470	2009	3Q27
Global Ship Lease 70 LLC (3)	Liberia	GSL Syros	5,470	2010	4Q27
Global Ship Lease 71 LLC (3)	Liberia	GSL Tinos	5,470	2010	3Q27
Zeus One Marine LLC	Marshall Islands	Orca I	5,308	2006	3Q28
Hephaestus Marine LLC	Marshall Islands	Dolphin II	5,095	2007	1Q28
Global Ship Lease 47 LLC	Liberia	GSL Château d’If	5,089	2007	4Q29 (14)
GSL Alcazar Inc.	Marshall Islands	CMA CGM Alcazar	5,089	2007	3Q29 (14)
Global Ship Lease 55 LLC	Liberia	GSL Susan	4,363	2008	3Q27
Global Ship Lease 50 LLC	Liberia	CMA CGM Jamaica	4,298	2006	1Q28
Global Ship Lease 49 LLC	Liberia	CMA CGM Sambhar	4,045	2006	1Q28
Global Ship Lease 51 LLC	Liberia	CMA CGM America	4,045	2006	1Q28
Global Ship Lease 57 LLC	Liberia	GSL Rossi	3,421	2012	1Q29
Global Ship Lease 58 LLC	Liberia	GSL Alice	3,421	2014	2Q28
Global Ship Lease 60 LLC	Liberia	GSL Eleftheria	3,421	2013	3Q28


Company Name ⁽¹⁾	Country of Incorporation	Vessel Name	Capacity in TEUs ⁽²⁾	Year Built	Earliest Charter Expiry Date
Global Ship Lease 59 LLC	Liberia	GSL Melina	3,421	2013	4Q29 (15)
Pericles Marine LLC	Marshall Islands	Athena I (ex Athena)	2,980	2003	2Q27 (16)
Global Ship Lease 61 LLC	Liberia	GSL Mercer	2,824	2007	1Q27
Global Ship Lease 62 LLC	Liberia	GSL Mamitsa	2,824	2007	1Q28
Global Ship Lease 63 LLC	Liberia	GSL Lalo	2,824	2006	2Q27
Global Ship Lease 42 LLC	Liberia	GSL Valerie	2,824	2005	2Q27
Global Ship Lease 64 LLC	Liberia	GSL Elizabeth	2,741	2006	3Q28 (17)
Athena Marine LLC	Marshall Islands	Newyorker	2,635	2001	2Q27
Aphrodite Marine LLC	Marshall Islands	Nikolas	2,635	2000	1Q27
Global Ship Lease 65 LLC	Liberia	GSL Chloe	2,546	2012	1Q27
Global Ship Lease 66 LLC	Liberia	GSL Maren	2,546	2014	2Q28 (18)
Aris Marine LLC	Marshall Islands	Maira	2,506	2000	1Q27
Global Ship Lease 38 LLC	Liberia	Manet (19)	2,288	2001	3Q26
Global Ship Lease 45 LLC	Liberia	Kumasi (19)	2,220	2002	4Q26
Global Ship Lease 41 LLC	Liberia	Julie (19)	2,207	2002	3Q27