Global Ship Lease (GSL) is a container ship leasing company whose stock has had quite a run in the last year and a half. But I think the GSL story is not over and there is still some nice upside potential.
GSL was formed to buy 17 ships from parent company CMA CGM, the third largest container shipping company in the world, and then charter them back to CMA. GSL went public through a SPAC acquisition in August of 2008 and is currently leasing the 17 ships to CMA under long term charters with an average remaining life of 8 years.
Bad Times
GSL ran into trouble in 2009 as container shipping rates crashed in the wake of the global economic downturn. GSL had all of its ships leased out on fixed rate long term charters so it was not not directly exposed to the drop in shipping rates. But
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Rachel Perry Mary Elizabeth Winstead Piper Perabo Anna Kournikova Esther Cañadas
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