Global Ship Lease Declares Quarterly Dividend on its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares – Newbuilding Orders
Global Ship Lease, Inc. (NYSE:GSL) (the “Company”), a containership owner and lessor, announced that the Company’s Board of Directors has declared a cash dividend of $0.546875 per depositary share, each representing a 1/100th interest in a share of its 8.75% Series B Cumulative Redeemable Perpetual Preferred Shares (the “Series B Preferred Shares”) (NYSE:GSLPrB). The dividend represents payment for the period from April 1, 2026 to June 30, 2026 and will be paid on July 1, 2026 to all Series B Preferred Shareholders of record as of June 24, 2026.
Newbuilding Orders
Subject to certain conditions precedent being met, the Company has agreed individual newbuilding contracts for 10 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships (the “Newbuilds”) for an aggregate purchase price of approximately $917 million. These highly flexible ships have been designed and specified to ensure a superior fit for existing and future market needs, with deliveries scheduled to take place between 4Q 2028 and 1Q 2030. Upon delivery from the respective yards, the Newbuilds are contracted on multi-year charters, with a TEU-weighted average term of 6.7 years and at rates expected to generate aggregate Adjusted EBITDA of approximately $665 million over their respective charter terms.
George Youroukos, Executive Chairman of Global Ship Lease, commented: “We are pleased to have agreed attractive terms for these best-in-class vessels, which we expect to be the workhorses of global container shipping for many years to come, ensuring that our existing “cash cows” are successfully replaced as they begin to age out. Alongside our continuing efforts to renew our fleet with well-specified, on-the-water vessels, we have worked hard to ensure that the next generation represented by these newbuilds reflects the evolving needs of our liner customers for maximum flexibility to adapt to changing trade patterns, as well as highly efficient operation. Consistent with our long-held strategy of mitigating downside risk while unlocking attractive upside potential, we are pleased to have fixed all 10 of the Newbuilds on multi-year charters commencing upon delivery from the yards. Moving on these compelling newbuilding opportunities is facilitated both by our strong balance sheet and our stable platform with existing forward charter cover of $2.1 billion spread over 2.6 years.”
Global Ship Lease Announces First Quarter 2026 Earnings Release, Conference Call and Webcast
Global Ship Lease, Inc., a containership owner and lessor, announced that it will hold a conference call to discuss the Company’s results for the first quarter 2026 on Friday, May 22, 2026 at 10:30 a.m. Eastern Time. The Company will issue financial results for the first quarter 2026 on Friday, May 22, 2026 before the open of market trading.
What:
First Quarter 2026 Conference Call and Webcast
When:
Friday, May 22, 2026 at 10:30 a.m. Eastern Time
Where:
There are two ways to access the conference call:
Dial-in: (646) 307-1963 or (800) 715-9871; Event ID: 4424843Please dial in at least 10 minutes prior to 10:30 a.m. Eastern Time to ensure a prompt start to the call.
Live Internet webcast and slide presentation:http://www.globalshiplease.com
The webcast will be archived on the Company’s website: http://www.globalshiplease.com
Global Ship Lease, Inc. announced that the Company’s Board of Directors has declared a dividend of $0.625 per Class A common share for the first quarter of 2026, to be paid on June 3, 2026 to shareholders of record as of May 22, 2026.
Global Ship Lease Announces Closing of the Full Redemption of its 9.875% First Priority Secured Notes Due 2022
Global Ship Lease, Inc. announced that it has closed on its previously announced full redemption of all of the then-outstanding $233,436,000 aggregate principal amount of its 9.875% First Priority Secured Notes due 2022 (the “Notes”) at a redemption price equal to 102.469% of the principal amount thereof (the “Redemption Price”) plus accrued and unpaid interest to, but not including, the redemption date of January 20, 2021. The Company paid the Redemption Price using funds from the drawdown of its previously-announced $236.2 million senior secured loan facility with Hayfin Capital Management, LLP, along with cash on hand. All Notes have been cancelled and the Notes will no longer trade on The International Stock Exchange.
Upon the closing of the redemption, the Company issued an aggregate of 12,955,188 Class A common shares to KEP VI (Newco Marine) Ltd. and KIA VIII (Newco Marine) Ltd. (together, “Kelso”), both affiliates of Kelso & Company, a U.S. private equity firm, upon Kelso’s conversion of its 250,000 Series C Preferred Shares, representing all such shares then outstanding, in accordance with the terms of the Certificate of Designation governing the Series C Preferred Shares. Following the conversion of the Series C Preferred Shares, the Company has 30,696,196 Class A common shares outstanding.
Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. On November 15, 2018, it completed a strategic combination with Poseidon Containers.
Global Ship Lease owns 43 containerships, ranging from 2,207 to 11,040 TEU, with a total capacity of 245,280 TEU and an average age, weighted by TEU capacity, of 13.7 years as at December 31, 2020. 25 ships are Post-Panamax, of which nine are fuel-efficient new-design wide-beam.
Adjusted to include all charters agreed, and ships acquired or divested, up to January 20, 2021, the average remaining term of the Company’s charters at September 30, 2020, to the mid-point of redelivery, including options under the Company’s control, was 2.4 years on a TEU-weighted basis. Contracted revenue on the same basis was $710.0 million. Contracted revenue was $786.7 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 2.7 years.