Global Ship Lease Joins Call to Action for Shipping Decarbonization
September 22 2021 - 9:00AM
Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) today joined
more than 150 industry leaders and organizations representing the
entire maritime value chain, including shipping, cargo, energy,
finance, ports, and infrastructure, in calling for governments to
work together with industry to deliver the policies and investments
needed to reach critical tipping points in decarbonizing global
supply chains and the global economy.
Signatories of the Call to Action for Shipping
Decarbonization call on world leaders to:
- Commit to decarbonizing
international shipping by 2050 and deliver a clear and
equitable implementation plan to achieve this when adopting the IMO
GHG Strategy in 2023.
- Support industrial scale
zero emission shipping projects through national action,
for instance by setting clear decarbonization targets for domestic
shipping and by providing incentives and support to first movers
and broader deployment of zero emissions fuels and vessels.
- Deliver policy measures
that will make zero emission shipping the default choice by
2030, including meaningful market-based measures, taking
effect by 2025 that can support the commercial deployment of zero
emission vessels and fuels in international shipping.
George Youroukos, Executive Chairman of Global
Ship Lease, stated, “We have been working hard to embed ESG
principles in general, and decarbonization in particular, in our
business strategy and our DNA as an organization – as reflected in
our annual ESG reports. We take a full life-cycle approach to the
carbon footprint of ships, considering the impact of building and
recycling ships, as well as operating them. Consequently, we see
extending the economic life of existing ships - and optimizing them
to reduce emissions - until next-generation sustainable fuels and
propulsion technologies become commercially available and
economically viable as being both environmentally responsible and
financially prudent. However, with 80% of global trade being
carried by sea, it is critical not only for those directly engaged
in the maritime ecosystem to be committed to decarbonization, but
for the world’s governments to acknowledge the urgency, and address
the complexity, of decarbonizing shipping and establish a unified
framework that enables and accelerates that transition.”
“With the UN General Assembly currently underway
and important climate negotiations set to take place in November at
the COP26 UN Climate Change Conference, this is a critical time. We
are proud to join with our colleagues in the Getting to Zero
Coalition and the broader maritime world in calling for
collaborative global action to achieve the decarbonization of
international shipping by 2050.”
Learn more about the Call to Action for Shipping
Decarbonization and see the full list of Signatories here.
Learn more about what concrete actions
Signatories of the Call to Action for Shipping Decarbonization are
taking in support of shipping decarbonization here.
About Global Ship Lease
Global Ship Lease is a leading independent
owner of containerships with a diversified fleet of mid-sized and
smaller containerships. Incorporated in the Marshall
Islands, Global Ship Lease commenced operations
in December 2007 with a business of owning and chartering
out containerships under fixed-rate charters to top tier container
liner companies. It was listed on the New York stock
Exchange in August 2008.
As at August 31, 2021, Global Ship
Lease owned 61 containerships, ranging from 1,118 to 11,040
TEU, and had contracted to purchase a further four ships, for a
total fleet of 65 ships with an aggregate capacity of 342,378 TEU.
32 ships are wide-beam Post-Panamax.
Adjusted to include all charters agreed, and
ships contracted to be purchased, up to August 31, 2021, the
average remaining term of the Company’s charters as at June
30, 2021, to the mid-point of redelivery, including options under
the Company’s control and other than if a redelivery notice has
been received, was 2.5 years on a TEU-weighted basis. Contracted
revenue on the same basis was $1.37 billion. Contracted
revenue was $1.61 billion, including options under charterers’
control and with latest redelivery date, representing a weighted
average remaining term of 3.1 years.
Safe Harbor Statement
This press release contains forward-looking
statements. Forward-looking statements provide the Company's
current expectations or forecasts of future events. Forward-looking
statements include statements about the Company's expectations,
beliefs, plans, objectives, intentions, assumptions and other
statements that are not historical facts. Words or phrases such as
"anticipate," "believe," "continue," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict,"
"project," "will" or similar words or phrases, or the negatives of
those words or phrases, may identify forward-looking statements,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. These forward-looking statements
are based on assumptions that may be incorrect, and the Company
cannot assure you that the events or expectations included in these
forward-looking statements will come to pass. Actual results could
differ materially from those expressed or implied by the
forward-looking statements as a result of various factors,
including the factors described in "Risk Factors" in the Company's
Annual Report on Form 20-F and the factors and risks the Company
describes in subsequent reports filed from time to time with the
U.S. Securities and Exchange Commission. Accordingly, you should
not unduly rely on these forward-looking statements, which speak
only as of the date of this press release. The Company undertakes
no obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this press
release or to reflect the occurrence of unanticipated events.
Investor and Media Contact: The IGB GroupBryan
Degnan646-673-9701or Leon Berman 212-477-8438
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