Global Ship Lease Eyes Further Acquisitions

UK-based containership charter owner Global Ship Lease is looking at strategic alternatives focused on maximizing shareholder value, while continuing to develop vessel purchase opportunities.

The move comes on the back of the refinancing of all of GSL’s indebtedness in October 2017. With a strengthening market backdrop, the company’s Board of Directors has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives which include, among other things, a corporate acquisition, a business combination or a partnership.

“Following the completion of the USD 360 million bond issue due 2022…we believe now is the right time to explore strategic alternatives to maximize shareholder value,” Ian Webber, Chief Executive Officer of Global Ship Lease, said.

Webber continued that, with the refinancing complete, Global Ship Lease “is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner.”

In addition, with increased confidence in the container shipping industry’s cyclical recovery, GSL said it would continue to focus on near-term opportunities to grow its fleet.