• 2018 November 16 13:10

    Global Ship Lease completes strategic combination with Poseidon Containers

    Global Ship Lease, Inc. , and Poseidon Containers Holdings LLC and K&T Marine LLC (together “Poseidon Containers”), announced today that they had closed the previously announced stock-for-stock merger between the Company and Poseidon Containers and opportunistically refinanced $228.8 million of Poseidon Containers’ secured bank debt, crystalizing a debt reduction of $48.2 million. The combined company will have a fleet of 38 vessels with a total capacity of 198,793 TEU, and, as of September 30, 2018, an average fleet age weighted by TEU of 10.7 years, and with the recently announced new charters, contracted revenue of approximately $720 million.

    All conditions precedent were met and the Company closed on its stock-for-stock merger with Poseidon Containers. Under the terms of the merger agreement, the Company issued 24.045 million shares of Class A common stock and 0.250 million shares of Series C perpetual preferred stock, which are convertible in limited circumstances into an aggregate of 103.642 million shares of Class A common stock. Affiliates of Kelso & Company L.P. are the sole holder of the convertible preferred stock, which is not entitled to any preferred dividend payments other than any dividend which might be payable to common shareholders and represents approximately 49.2% of the voting power and approximately 56.4% of the economic interest in the Company. In aggregate, the owners of Poseidon Containers own approximately 69.5% of the economic interest of the Company. The Board of Directors of Global Ship Lease was expanded to eight directors, of whom two were nominated by Poseidon, and three, including two independent directors, were nominated by GSL. The remaining three independent directors have been selected jointly.

    The closing of the merger creates a market leader with an asset base of more than $1.3 billion.




2019 February 23

16:03 USCG terminates voyage for illegal fishing in Tortugas Ecological Reserve
15:51 Herbert-ABS launches HECSTAB Offshore Stability Evaluation Software
15:36 Fleet Xpress powers new Lindblad Expeditions-National Geographic ship
13:38 VT Halter Marine gets Navy's APL(S) design and construction contract modification
12:24 Brunvoll to deliver propulsion systems to autonomous ship
11:14 Austal begins construction of USS Canberra (LCS 30)

2019 February 22

18:08 Pacific Fleet AS-34 underwater vehicle practises maneuvering in Kola Bay
17:50 Krasnoye Sormovo launches first ship in new RSD59 series of four ships ordered by STLC
17:35 CMA CGM announces FAK rates from Asia to the Middle East Gulf
17:05 Bilfinger expands in international maritime scrubber market
16:35 Aker Solutions to develop digital twin for Wintershall’s Nova field
16:12 Chiquita's new container ship pays its first visit to Kloosterboer in North Sea Port
15:31 DOF awarded contracts for three ROV Support Vessels in Brazil
15:12 Biggest wellboat in the world’s hull arrives at Havyard yard in Leirvik
14:55 Zaliv shipyard (Kerch) launched search-and-rescue ship of Project А163
14:12 Tideway completes installation of longest AC offshore wind export cable at Hornsea One in the UK
13:48 32 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 21-22
13:30 GTT creates a Digital Hub of Excellence in Singapore
13:04 The Spectrum of the Seas leaves the MEYER WERFT's dock
12:49 Sea Port of Saint-Petersburg upgrades its cane equipment
12:30 Port of Rotterdam bunker figures down to 9.5 million m3 in 2018
12:03 Algoma announces purchase of additional product tanker
11:30 Van Oord is one of the founding partners and main sponsor of PortXL
11:02 Fincantieri and Abu Dhabi Shipbuilding reach an agreement to cooperate in the UAE shipbuilding segment
10:30 Mitsubishi Shipbuilding holds christening ceremony for next-generation LNG carrier "MARVEL CRANE"
10:20 Port of Yeisk handled 159,000 tonnes of cargo year-to-date
10:00 CMA CGM implements Port Congestion Surcharge from Med and North Europe to Canada East Coast
09:58 The Netherlands ratifies ship recycling convention
09:35 Brent Crude futures price is down 0.24% to $66.91, Light Sweet Crude – down 0.16% to $56.87
09:17 Baltic Dry Index is up to 630 points

2019 February 21

18:33 AML’s MVP200 selected for new Swedish “RV Svea”
18:16 ​Shearwater GeoServices and TGS partner for major Brazil survey
18:03 NYK selected as a White 500 company for third consecutive year
17:55 Rosmorport to dredge 12.1 million cbm of material in 2019
17:34 Boskalis expands market position in marine survey through acquisition Horizon
17:29 GE to supply LM2500 gas turbine auxiliary equipment for Indian Navy’s P17A frigates
17:11 Hydrographic Company to get 15 new vessels by 2024
17:05 Rotterdam port innovation programme PortXL participants announced
17:03 H.H. Sheikh Theyab updated on ADNOC L&S strategy to become a global shipping champion
16:14 SCHOTTEL presents new shallow-water thruster SPJ 30 up to 150 kW
15:35 Forth Ports Group receives planning consent for new terminal at the Port of Tilbury
15:16 Algoma announces the Algoma Conveyor is headed for Canada
14:32 A.P. Moller - Maersk accelerates transformation and grows revenue in 2018
14:11 Teekay Tankers reports fourth quarter and annual 2018 results
13:46 Santos posts it 2018 net profit of $630 million
13:15 Gazprom Neft demonstrates solid growth across all key financial indicators in 2018
13:13 A.P. Moller - Maersk initiates demerger and separate listing of Maersk Drilling
12:49 ESPS Relampago’s crew carried out maritime training exercises with the Seychelles Coastguard
11:57 First meeting of Eastern Partnership LNG Network takes place in Warsaw
11:28 42 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 20-21
11:03 The UK publishes draft UK MRV legislation following Brexit
10:39 Taganrog Sea Commercial Port spent USD 60,500 under its social programme in 2018
10:16 IMO treaties ratified by Guyana
09:54 Allocations of Taganrog Sea Commercial Port for its environmental programme in 2018 totaled USD 96,400
09:31 Brent Crude futures price is up 0.18% to $67.2, Light Sweet Crude – up 0.51% to $57.45
09:15 Baltic Dry Index is down to 622 points

2019 February 20

18:13 Klaipėdos nafta carried out the 10th operation of reloading LNG from a gas carrier to ground storage tanks
17:52 VNIIR-Progress St. Petersburg supplies electrical equipment for Atomflot icebreaker
17:28 Documents on concession model for Taman dry cargo area project to be submitted to RF Govt in March 2019
17:04 Cammell Laird stages ‘float-off’ for new £10m ferry for Red Funnel