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10 August 2022 The on-line newspaper devoted to the world of transports 19:32 GMT+2

August 4, 2022

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Original news
Global Ship Lease raises revenue record again Quarterly

The April-June period was closed with a profit net to 56,9 million dollars (+77.4%)

Global Ship Lease (GSL), chartering company containers, filed the second quarter of this year record revenues of $154.5 million, up by +86.4% on the same period of 2021 and with an increase of 825 thousand dollars compared to the previous record set in the first quarter of 2022. Operating profit amounted to EUR 84.8 million dollars (+86.7%) and net profit at 56.9 million dollars (+77.4%).

Commenting on the current market situation, the executive Chairman of GSL, George Youroukos, noted that, "as a result the almost continuous increase in freight rates since mid-2020, currently the rental market is in mode of expectation given that the elements of macro uncertainty have become more marked and renters are more inclined to acquire shorter rentals relative to the very limited number of ships that have entered the charter market. That said - youroukos - in recent weeks we have been very pleased to fix a certain number of our ships in multi-year charters and to continue to discuss with the charterers about the possible commitment relating to additional ships within the framework of our model of conservative business and not very prone to risk».

As for future prospects, Youroukos pointed out that, «in the medium and small classes in which we operate, in the years to come the growth of the offer will result modest compared to that for larger ships'.

To date, the GSL fleet consists of 65 container ships as of August 4, 2021 (including four ships that at that date were still to be taken over).

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