Global Ship Lease, Inc. (GSL) stock soared 2.08% in the pre-market trading session at the price of $23.55 despite no fundamental reason. GSL, listed on the NYSE in August 2008, is a leading company with a fleet of medium and smaller-sized containerships.
GSL Joined Call for Shipping Decarbonization
On 22nd September 2021, GSL joined the call for global action with 150 other maritime business leaders and organizations to acquire decarbonization. It aims to encourage the world authorities to implement the required strategies to reach critical tipping points in supply chain decarbonization.
Management Comment
Executive Chairman of GSL, George Youroukos, remarked that their annual ESG reports reflect their efforts of implanting ESG principles and decarbonization in their business strategy. As 80% of international trade pass through the sea, it is critical for those involved directly in the maritime system to concentrate on decarbonization. The world’s governments should acknowledge the seriousness and complexity of decarbonizing sea transportation. There is a need to formulate a united framework that facilitates and expedites this development. United Nations General Assembly has approved the required climate meetings set to take place at the COP26 UN Climate Change Conference in November 2021. They are pleased to join the call for global action to acquire decarbonization by 2050, he added.
GSL Published Quarterly Dividend
On 9th September 2021, GSL announced that its Board of Directors had announced approximately $0.546875 per depositary shares in the cash dividend. Each dividend represents a 1/100th share interest of the company’s 8.75% Series B Cumulative Preferred Shares. It represents a payment period from 1st July 2021 to 30th September 2021 and will be paid on 1st October 2021 to all Series B Preferred Shareholders of record.
GSL Purchased 2.5 million Common Shares
On 1st September 2021, GSL published that B. Riley Financial had bought 3 million Class A common shares from Kelso & Company. The transaction price was $19.17 per share with a 5% discount on the closing price on 31st August 2021. Executive Chairman, George Youroukos have purchased 521,650 Shares from B. Riley at the price of $19.17. GSL will further buy another 521,650 shares from B. Riley at the same price to raise the total outstanding shares to 36,216,803 shares. After these transactions, Kelso’s remaining holdings of GSL have been decreased to 4.9% of shares outstanding.
