Independent journal on economy and transport policy
18:09 GMT+2
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The merger with Poseidon Containers was good for Global Ship Lease
In 2019, the company recorded a significant increase in economic results
March 5, 2020
In the whole of 2019, GSL revenues increased by 66.2% 261.1 million dollars compared to 157.1 million dollars in the previous year. Operating profit 111.6 million dollars and net income of 39.8 million of dollars compared to negative sign results for -10.3 million and -57.4 million dollars in 2018.
"Following the merger at the end of 2018 which saw GSL doubling its fleet and tripling the net asset value - commented Global Ship Lease executive chairman George Youroukos - the financial and strategic steps we have taken during the year we were allowed to benefit from the improvement market fundamentals and enter the stronger 2020 better positioned to seize the opportunities for creation value in the market. Buying ships with low-cost slots at assessments, and ensuring their rapid use at important counterparties, we have achieved excellent returns proportion of risk and we have significantly improved cash generation while reducing value risk residual."
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In the whole of 2019, GSL revenues increased by 66.2% 261.1 million dollars compared to 157.1 million dollars in the previous year. Operating profit 111.6 million dollars and net income of 39.8 million of dollars compared to negative sign results for -10.3 million and -57.4 million dollars in 2018.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
