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Description of Business
 12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business

1. Description of Business

On August 14, 2008, Global Ship Lease, Inc. (the “Company”) merged indirectly with Marathon Acquisition Corp. (“Marathon”), a company then listed on The American Stock Exchange. Under the merger agreement, Marathon, a U.S. corporation, first merged with its wholly owned Marshall Islands subsidiary, GSL Holdings, Inc. (“Holdings”), with Holdings continuing as the surviving company. Global Ship Lease, Inc., at that time a subsidiary of CMA CGM S.A. (“CMA CGM”), then merged with Holdings, with Holdings again being the surviving company. Holdings was renamed Global Ship Lease, Inc. and became listed on the New York Stock Exchange on August 15, 2008 (the “Marathon Merger”).

On November 15, 2018, the Company completed the acquisition of 20 containerships, one of which, the Argos, was contracted to be sold which sale was completed in December 2018, from Poseidon Containers Holdings LLC and K&T Marine LLC (together, “Poseidon Containers”) and the transaction (the “Poseidon Transaction”). References herein to “GSL Fleet” are to the 19 vessels that were owned by the Company prior to the consummation of the Poseidon Transaction, and references to “Poseidon Fleet” are to the 19 vessels that were acquired by the Company from Poseidon Containers upon consummation of the Poseidon Transaction, excluding the one additional vessel acquired but held for sale and was delivered to its new owner on December 19, 2018.

On March 25, 2019, the Company’s common shares began trading on a reverse-split-adjusted basis, following approval received from the Company’s shareholders at a Special Meeting held on March 20, 2019 and subsequently approval from the Company’s Board of Directors to reverse split the Company’s common shares at a ratio of one-for-eight. The Class A common shares and Class B common shares per share amounts disclosed in the consolidated financial statements and notes give effect to the reverse stock split retroactively, for all periods presented.

The Company’s business is to own and charter out containerships to leading liner companies. As of December 31, 2018, the Company owned 38 vessels with average age weighted by TEU capacity of 11.0 years.

The following table provides information about the vessels:

Company Name (1) Fleet (2),(3) Country of
Incorporation

Vessel 

Name

Capacity in TEUs

(4)

Year Built

Earliest 

Charter Expiry Date

 
 
Global Ship Lease 3 Limited GSL Cyprus CMA CGM Matisse 2,262 1999 3Q19  
Global Ship Lease 4 Limited GSL Cyprus CMA CGM Utrillo 2,262 1999 3Q19  
Global Ship Lease 5 Limited GSL Cyprus GSL Keta 2,207 2003 2Q19  
Global Ship Lease 6 Limited GSL Cyprus GSL Julie 2,207 2002 1Q19  
Global Ship Lease 7 Limited GSL Cyprus Kumasi 2,207 2002 4Q19  
Global Ship Lease 8 Limited GSL Cyprus Marie Delmas 2,207 2002 4Q19  
Global Ship Lease 9 Limited GSL Cyprus CMA CGM La Tour 2,272 2001 3Q19  
Global Ship Lease 10 Limited GSL Cyprus CMA CGM Manet 2,272 2001 3Q19  
Global Ship Lease 12 Limited GSL Cyprus CMA CGM Château d’If 5,089 2007 4Q20  
Global Ship Lease 13 Limited GSL Cyprus CMA CGM Thalassa 11,040 2008 4Q25  
Global Ship Lease 14 Limited GSL Cyprus CMA CGM Jamaica 4,298 2006 3Q22  
Global Ship Lease 15 Limited GSL Cyprus CMA CGM Sambhar 4,045 2006 3Q22  
Global Ship Lease 16 Limited GSL Cyprus CMA CGM America 4,045 2006 3Q22  
Global Ship Lease 20 Limited GSL Hong Kong GSL Tianjin 8,667 2005 2Q19  
Global Ship Lease 21 Limited GSL Hong Kong OOCL Qingdao 8,667 2004 1Q19  
Global Ship Lease 22 Limited GSL Hong Kong GSL Ningbo 8,667 2004 2Q19  
Global Ship Lease 23 Limited GSL Hong Kong CMA CGM Berlioz 6,621 2001 2Q21  
Global Ship Lease 26 Limited GSL Hong Kong GSL Valerie 2,824 2005 2Q19  
GSL Alcazar Inc. GSL Marshall Islands CMA CGM Alcazar 5,089 2007 4Q20  
Aris Marine LLC Poseidon Marshall Islands Maira 2,506 2000 1Q19  
Aphrodite Marine LLC Poseidon Marshall Islands Nikolas 2,506 2000 1Q19  
Athena Marine LLC Poseidon Marshall Islands Newyorker 2,506 2001 1Q19  
Hephaestus Marine LLC Poseidon Marshall Islands Dolphin II 5,095 2007 2Q19  
Pericles Marine LLC Poseidon Marshall Islands Athena 2,762 2003 1Q19  
Zeus One Marine LLC Poseidon Marshall Islands Orca I 5,095 2006 2Q19  
Leonidas Marine LLC Poseidon Marshall Islands Agios Dimitrios 6,572 2011 3Q19  
Alexander Marine LLC Poseidon Marshall Islands Mary 6,927 2013 3Q23  
Hector Marine LLC Poseidon Marshall Islands Kristina 6,927 2013 2Q19(6)  
Ikaros Marine LLC Poseidon Marshall Islands Katherine 6,927 2013 1Q24  
Tasman Marine LLC Poseidon Marshall Islands Tasman 5,936 2000 1Q19  
Hudson Marine LLC Poseidon Marshall Islands Dimitris Y 5,936 2000 2Q19  
Drake Marine LLC Poseidon Marshall Islands Ian H 5,936 2000 2Q19  
Phillipos Marine LLC Poseidon Marshall Islands Alexandra 6,927 2013 1Q19(6)  
Aristoteles Marine LLC Poseidon Marshall Islands UASC Bubiyan 6,882 2015 1Q19(6)  
Menelaos Marine LLC(5) Poseidon Marshall Islands UASC Yas 6,882 2015 1Q24  
Laertis Marine LLC Poseidon Marshall Islands UASC Al Khor 9,115 2015 1Q19  
Penelope Marine LLC Poseidon Marshall Islands Maira XL 9,115 2015 2Q20  
Telemachus Marine LLC Poseidon Marshall Islands Anthea Y 9,115 2015 2Q20  

(1)   All subsidiaries are 100% owned, either directly or indirectly;      

(2) The GSL Fleet comprises the 19 vessels wholly owned by the Company prior to completion of the Poseidon Transaction;

  
(3)  The Poseidon Fleet comprises the 19 vessels wholly owned by Poseidon Containers as at the completion of the Poseidon Transaction, excluding one additional vessel held for sale;  

(4)   Twenty-foot Equivalent Units;

(5)   Renamed Olivia I, effective March 19, 2019;

  
(6)   Thereafter, five years to CMA CGM at $25,910 per day.