Global Ship Lease Third-Quarter Operating Revenue Rises 4.5% to $201.4 Million: Net Income of $99.2 Million or $2.75 Per Share, a $3.4 Billion Contracted Revenu
ATHENS, Greece — Global Ship Lease, Inc. (NYSE: GSL), an owner of containerships, reported on November 9 its unaudited results for the third quarter ended September 30, 2026. According to the company's official earnings release, operating revenue was $201.4 million, up 4.5% from $192.7 million a year earlier, principally due to the net effect of higher rates on charter renewals and the addition of three newly acquired vessels. Net income available to common shareholders was $99.2 million, or $2.75 per share, compared with net income of $92.6 million a year earlier; normalized net income was $99.3 million, or $2.75 normalized EPS; and adjusted EBITDA was $138.8 million, compared with $130.2 million a year earlier. Fleet utilization was 96.6% in the quarter, compared with 95.9% a year earlier. For the nine months, operating revenue was $598.1 million and net income was $279.9 million.
On contracts and dividends, the company said it added $1.82 billion of contracted revenue during the nine months, bringing total contracted revenue at September 30, 2026 to $3.4 billion over a TEU-weighted average remaining duration of 3.5 years, with contract cover of 100% for 2026, 98% for 2027 and 74% for 2028. The board increased the quarterly supplemental dividend by 25% ($0.0625 per share), setting the third-quarter dividend at $0.6875 per Class A common share — $2.75 annualized — payable on December 3, 2026 to shareholders of record on November 20, 2026.
On fleet and financing, in October 2026 the company agreed a $1.0 billion syndicated loan facility at SOFR plus 1.5% with a seven-year duration to finance 15 newbuildings, from an eight-member syndicate with Bank of America as bookrunner, mandated lead arranger and agent; it also exercised options for two additional mid-size, ultra-high-reefer, wide-beam containerships for an aggregate $163.0 million, scheduled for delivery in the fourth quarter of 2029, taking the orderbook to 17 vessels delivering between late 2028 and early 2030, of which 15 have secured long-term charters. Executive Chairman George Youroukos said in the release that the $3.4 billion contracted revenue backlog and the dividend increase reflect the company's focus on highly flexible tonnage, and Chief Executive Officer Thomas Lister said the oversubscribed syndicated facility rests on the company's balance sheet and banking relationships.
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Source: Global Ship Lease (company earnings
Published by GSM · USA (original Chinese edition)
Photo: 集装箱船（资料图）。（Wikimedia Commons／CC BY-SA 4.0）|A container ship (file photo). (Wikimedia Commons / CC BY-SA 4.0)
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