Global Shipping Line (GSL), Sales Breakthrough of 1 Trillion Korean Won, Expanded Dividends... Long-term Contracts of 3 Trillion Korean Won Achieve "Stable Growth"

Global Ship Lease (GSL) continues its “steady growth momentum” based on improved annual performance and a stable fleet contract foundation, advancing measures such as dividend increases and additional investments. Notably, with positive outlooks for 2025, the company has secured over $2 billion in long-term contract revenue, which has been praised for ensuring stability amid shipping market fluctuations.

Global Ship Lease (GSL) announced that for the full year of 2025, revenue reached $766.5 million (approximately 1.1037 trillion KRW), a 7.8% increase year-over-year. Net profit for the same period was $406.9 million, with earnings per share (EPS) of $11.40, up 18.3% from the previous year. Based on the fourth quarter, revenue was $190.9 million, and net profit was $100.2 million, maintaining a stable growth trend on a quarterly basis.

The company has raised its annual dividend to “Class A common stock at $2.50 per share.” The dividend for Q4 2025 was set at $0.625 per share and paid in March 2026; for Series B preferred shares, quarterly dividends of $0.546875 per share continue to be paid. Recent dividend announcements also maintained the same level into Q1 2026, reinforcing the “shareholder return tone.”

Financial metrics have also improved. Adjusted EBITDA for 2025 was $521.4 million (about 750.7 billion KRW), a 5.4% increase, with locked-in contract revenue reaching $2.24 billion (approximately 3.2256 trillion KRW). Notably, fleet contract coverage for 2026 is at 99%, and approximately 81% for 2027, which is viewed as providing high visibility for future performance.

The company has also expanded its fleet. Global Ship Lease has decided to invest a total of $90 million (about 129.6 billion KRW) to acquire three 8,600 TEU eco-friendly container ships. These vessels are leased through 2030 and are expected to generate approximately $88 million (about 126.7 billion KRW) in revenue. After acquisition, the fleet will grow to 71 ships with a total capacity of 420,000 TEU.

Currently, Global Ship Lease operates a fleet of 69 ships, with an average age of 18 years and an average remaining lease term of 2.5 years. Contract-based revenue amounts to $1.92 billion (about 2.7648 trillion KRW), and including options, it reaches $2.4 billion (about 3.456 trillion KRW).

Market analysis indicates that amid ongoing volatility in global shipping freight rates, GSL’s “long-term contract-centric business model” plays a key role in performance defense. An industry insider commented, “The structure with low dependence on spot rates and a high proportion of medium- to long-term contracts becomes an advantage within interest rate and economic fluctuation ranges,” and “dividend expansion and lower leverage are also factors enhancing investment appeal.”

Meanwhile, Global Ship Lease submitted its annual report (Form 20-F) to the U.S. Securities and Exchange Commission (SEC) in March 2026, and continues to share performance and strategic updates through investor conference calls and online broadcasts.