Global Ship Lease Reports Strong Second Quarter Results on Flexibility of Tonnage Employment

Global Ship Lease, Inc. reported strong second quarter results for 2026, driven by flexibility in tonnage employment. The company's 2Q 2026 operating revenue reached $198.7 million, with a net income available to common shareholders of $89.3 million, or an earnings per share (EPS) of $2.48. Normalized net income for the period stood at $89.3 million, or $2.48 EPS. Adjusted EBITDA for Q2 2026 amounted to $131.4 million.

The company announced individual newbuilding contracts for 15 mid-size, ultra-high-reefer, wide-beam, latest-generation containerships, valued at approximately $1.3 billion. These ships, set to be delivered between Q4 2028 and Q1 2030, are designed to fit current and future market needs. The Newbuildings are expected to generate over $1.0 billion in Adjusted EBITDA upon delivery and commence employment on multi-year charters, with an average term of 7.1 years and rates expected to produce more than $1.0 billion of Adjusted EBITDA.

In June 2026, Global Ship Lease secured $1.45 billion in contracted revenues from new charters, extensions, and initial firm charters from the 15 Newbuildings, bringing total contracted revenues to $3.2 billion as of June 30, 2026. The company also declared a dividend of $0.625 per Class A common share, payable on September 3, 2026, for the second quarter of 2026 and June 3, 2026 for the first quarter of 2026.

Credit rating agencies updated their assessments of Global Ship Lease, with Moody's Investor Service maintaining a Ba2 Corporate Family Rating and upgrading the outlook to positive. Kroll Bond Rating Agency affirmed a BB+ credit rating with a stable outlook, and S&P Global maintained a BB+ Issuer Credit Rating with a stable outlook.

Additionally, the company entered into agreements for the forward sales of four non-core ships, scheduled to be delivered between Q4 2026 and Q4 2027, bringing in an aggregate price of $65.5 million and an anticipated gain of approximately $33.0 million.

George Youroukos, Global Ship Lease's Executive Chairman, expressed pride in delivering strong financial results, highlighting the strategic focus on optionality and flexible tonnage. He noted that geopolitics continue to significantly impact global trade, with a shift towards flexibility and reliability in the supply chain. The firm's charter coverage for 2026 and 2027 stands at 90%, with total contracted revenues over $3 billion and a duration of 3.3 years, including the Newbuildings.