GSL Q4 2022 earnings

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Was on the road when Global Ship Lease (GSL) reported their Q4 2022 results (Mar 1st, 2023)

Set up a new $350 financing facility in mid-2022, and used a portion to repay more expensive Senior notes. Signed forward charter deals on multiple vessels with Hapag Lloyd that will make the liner company a significant provider of backlog going forward.

Subsequent event: In Feb 2023, GSL agreed to sell GSL Amstel, a small 1100-TEU feeder vessel (I think, smallest vessel in its fleet) for around book value. The vessel has a dry docking later in the year.

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Reading the posted link more closely, it seems that GSL Amstel was a more problematic vessel. GSL took a $3M impairment on the vessel during Q4 2022. Given the vessel has an H2 2023 dry-docking, might as well as “cut losses” slightly earlier than planned.

GSL has 5 unencumbered vessels. Slightly more work, but I’m sure one could do some extra deep diving, and identify which 5 vessels, One can certainly identify groups of vessels e.g. none of the 7 vessels from the first 2021 acquisition, are unencumbered.