Containership owner Global Ship Lease (GSL) has announced its unaudited results for the third quarter ended September 30, 2025, reporting a 17.5 per cent year-on-year increase in net income available to common shareholders, which reached $92.6 million, or $2.59 per share. Operating revenue for the quarter was $192.7 million, up 10.7 per cent from Q3 2024.
Adjusted EBITDA for the quarter was $130.2 million, a 5.6 per cent increase. For the first nine months of 2025, net income available to common shareholders rose 20.8 per cent to $306.7 million, or $8.60 per share, while operating revenue grew 8.9 per cent to $575.5 million.
The company announced an increase in its quarterly dividend to $0.625 per Class A common share, bringing the new annualized dividend to $2.50 per share. This represents a 19 per cent increase in the total annualized dividend.
The board's decision was supported by sustained market demand and the company's progress in securing forward fixtures at attractive rates.
George Youroukos, Executive Chairman, stated, “Throughout 2025, the immense complexity and instability of the geopolitical situation...have stood in stark contrast to the consistency and strength of the mid-sized and smaller containership charter market.”
He noted that disruptions are reducing the efficiency of the global supply chain, increasing the number of ships required.
GSL's contracted revenue backlog stood at $1.92 billion as of September 30, 2025, with a weighted average remaining duration of 2.5 years. The fleet has 100 per cent of its days covered for 2025, 96 per cent for 2026, and 74 per cent for 2027.
During 2025, the company sold four vessels for an aggregate gain of $46 million and took delivery of one 9,000 TEU vessel.