Global Ship Lease announces additional newbuilding orders

Global Ship Lease Inc. (NYSE: GSL) has announced the placement of newbuilding orders for 10 mid-size, ultra-high-reefer, wide-beam containerships, with an aggregate purchase price of approximately $917 million. The vessels are scheduled for delivery between the fourth quarter of 2028 and the first quarter of 2030. Upon delivery, the ships will be contracted under multi-year charters with a TEU-weighted average term of 6.7 years, expected to generate approximately $665 million in Adjusted EBITDA over the charter period.

The newbuilds are designed to meet evolving market demands and provide operational flexibility for the Company’s liner customers. The decision aligns with Global Ship Lease’s strategy of replacing aging assets while maintaining a strong balance sheet and contracted revenue base. As of March 31, 2026, the Company had a fleet of 71 vessels with a TEU-weighted average age of 18.2 years and $2.05 billion in contracted revenue over 2.6 years.

The credit ratings of the Company have been affirmed by Moody’s and KBRA, with Moody’s upgrading its outlook to positive, citing the strategic value of the newbuild orders and the Company’s disciplined capital allocation approach. The acquisition is expected to be funded initially through cash reserves, with potential for additional financing in the future.