Global Ship Lease reported strong earnings growth

Global Ship Lease reported full-year 2025 operating revenue of US$ 766.5 million, an increase of 7.8% on 2024, with fourth-quarter operating revenue reaching US$ 190.9 million.

Net income available to common shareholders for the full year came in at USD 406.9 million, or US$ 11.40 per share, up 18.3% on the prior year.

Normalized net income for the year totalled US$ 366.4 million, or US$ 10.26 per share, representing a 3.9% increase, while full-year Adjusted EBITDA rose 5.4% to US$ 521.4 million.

The company added US$ 1.26 billion in contracted revenues during 2025 and the first two months of 2026, bringing total contracted revenues as of end-February 2026 to US$ 2.24 billion over a weighted average remaining duration of 2.7 years.

Coverage for open positions stands at 99% for 2026 and 80% for 2027.

Fleet activity during the year included the acquisition of three 8,600 TEU ECO-upgraded containerships for a combined US$ 90 million in December 2025, with the third vessel delivered in January 2026.

All three carry attached charters with a leading liner company. The company also took delivery of Czech, the last of four high-reefer ECO-9,000 TEU vessels contracted in late 2024.

On the disposal side, four older vessels were sold during the year for an aggregate gain of US$ 46.2 million.

Financially, Global Ship Lease refinanced certain credit facilities maturing in mid-2026 through an USD 85 million UBS credit facility bearing interest at SOFR plus 2.15% and maturing in the second quarter of 2028.

A quarterly dividend of US$ 0.625 per Class A common share was declared for the fourth quarter of 2025.

Executive Chairman George Youroukos highlighted the company’s strategic positioning amid a volatile environment shaped by shifting tariff policies, geopolitical instability and the recent escalation involving Iran, which he described as having turned the Strait of Hormuz into an active chokepoint.

He noted that fragmented and decentralised supply chains are structurally more ship-intensive than previous models, a dynamic that continues to support demand for flexible mid-size and smaller containerships of the type operated by Global Ship Lease.

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