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02 December 2020 The on-line newspaper devoted to the world of transports 22:12 GMT+1



November 9, 2020

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Original news
The third quarter of the charterer of GSL container carrier

Net profit was $14.5 million (+25.7%)

Global Ship Lease (GSL) container ship charterer ended the third quarter of 2020 with revenues of 70.5 million dollars, an increase of +6.9% over the same period last year. Operating profit recorded a slight growth of +0.5% to $28.8 million, while net profit, thanks to lower non-operating expenses totaled between July and September of this year, marked an increase in the number of +25.7% to $14.5 million.

"During the second half of 2020," he said. commented the executive chairman of GSL, George Youroukos - the containerised maritime transport sector showed a resilience, discipline in tariffs and capacity management, as well as surprisingly high demand. In recent months, he noted, the volumes of containerised goods rebounded dramatically, with noles that in different markets of traffic have reached record levels. The resulting demand for container container has led to a level of capacity unused worldwide of less than 2%, without any available capacity for our main segment of the post-Panamax of medium size, and resulted in the doubling of the noles compared to spring 2020 lows. In this context - he explained Youroukos - we have successfully concluded numerous new rental contracts and extension of contracts at interesting for our entire container fleet that are efficient in terms of slot cost, reefer capacity and fuel consumption.' GSL expects that, despite the crisis covid-19 continues to be a source of uncertainty, the positive period for the ship rental sector the accounting carrier will continue.

In the first nine months of 2020, the company's revenues were increased by +10.0% to $212.8 million compared to 193.5 million in the period January-September last year Year. The almost general increase in operating cost items led to a -6.3% drop in operating profit, which was was $78.9 million. Net profit was $29.6 million (-4.9%).

Currently the GSL fleet consists of 43 container container capacity between 2,200 and 11,000 teu.


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