Global Ship Lease Q2 and H1 2025 profits rise on strong charter revenue

Global Ship Lease has reported a notable increase in revenue and profit for the second quarter and first half of 2025, buoyed by higher rates on charter renewals and the addition of new vessels to its fleet. 

For the three months ending June 30, the company posted operating revenues of $191.9 million, a 9.7 per cent increase from the $175.0 million recorded in the same quarter of 2024. This helped lift net income available to common shareholders to $93.1 million, up 8.8 per cent from $85.6 million in the prior-year period.

Vessel operating expenses, a primary outgoing, rose by seven per cent to $50.5 million for the quarter, which the company attributed to the addition of new vessels, increased crew expenses, and inflation.

The positive performance continued for the full first half of the year. Operating revenues for the six-month period grew by eight per cent to $382.8 million, while net income available to common shareholders jumped 22.3 per cent to $214.1 million.

Global Ship Lease Executive Chairman George Youroukos highlighted that the company had added almost $400 million of contracted revenue during the first half of the year, bringing its total forward contracted revenues to $1.73 billion.

Looking ahead, the company stated that 96 per cent of its 2025 days and 80 per cent of its 2026 days are covered by forward contracts. The company declared a dividend of $0.525 per Class A common share for the quarter.