Global Ship Lease reported a 49.1% jump in bottom-line profit in the first quarter as the containership owner cut costs while relying on a stable book of term charters.
The New York-listed company, which is backed by liner giant CMA CGM, reported net income of $6.79m during the period, an improvement from the $4.56m a year earlier.
GSL sees spot promise
Webber pointed to optimistic signs in the spot market, where high levels of scrapping and minimal ordering have helped boost rates in recent weeks, particularly in the small and midsize vessel classes that GSL focuses on.
