Global Ship Lease announced robust financial results for the second quarter of 2025, with operating revenue increasing by 9.7% to $191.9 million compared to $175.0 million in the prior year period. Net income available to common shareholders grew by 8.8% to $93.1 million, resulting in earnings per share of $2.61. For the first half of 2025, operating revenue was $382.8 million, up 8.0%, and net income available to common shareholders was $214.1 million, up 22.3%.
The company significantly enhanced its forward contract coverage, locking in 96% of 2025 days and 80% of 2026 days. This strong coverage contributes to a total contracted revenue backlog of $1.73 billion as of June 30, 2025, with a weighted average remaining duration of 2.1 years. This extensive backlog provides substantial revenue visibility and insulation against market volatility.
In a move to further optimize its fleet, Global Ship Lease contracted to sell the vessel Dimitris Y (5,900 TEU, built 2000) in May 2025 for $35.6 million. This vessel is scheduled for delivery to its new buyers in the fourth quarter of 2025, upon redelivery from its existing charter. This divestiture aligns with the company's strategy of disciplined fleet management and renewal.
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