<SEC-DOCUMENT>0000919574-22-004570.txt : 20220804
<SEC-HEADER>0000919574-22-004570.hdr.sgml : 20220804
<ACCEPTANCE-DATETIME>20220804162732
ACCESSION NUMBER:		0000919574-22-004570
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220831
FILED AS OF DATE:		20220804
DATE AS OF CHANGE:		20220804

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Global Ship Lease, Inc.
		CENTRAL INDEX KEY:			0001430725
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34153
		FILM NUMBER:		221137056

	BUSINESS ADDRESS:	
		STREET 1:		TRUST COMPANY COMPLEX
		STREET 2:		AJELTAKE ROAD, AJELTAKE ISLAND
		CITY:			MAJURO
		STATE:			1T
		ZIP:			MH96960
		BUSINESS PHONE:		44 (0) 20 3998 0060

	MAIL ADDRESS:	
		STREET 1:		C/O GLOBAL SHIP LEASE SERVICES LTD.
		STREET 2:		25 WILTON ROAD
		CITY:			LONDON
		STATE:			X0
		ZIP:			SW1V 1LW

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GSL Holdings, Inc.
		DATE OF NAME CHANGE:	20080326
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d9729556_6-k.htm
<TEXT>
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    <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM 6-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center;">For the month of August 2022</div>
    <div><br>
    </div>
    <div style="text-align: center;">Commission File Number:&#160; 001-34153</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z80332404e5234191a976296920aa47c5">

        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Global Ship Lease, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Translation of registrant's name into English)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">c/o Global Ship Lease Services Limited</div>
            <div style="text-align: center; font-weight: bold;">25 Wilton Road</div>
            <div style="text-align: center; font-weight: bold;">London SW1V 1LW</div>
            <div style="text-align: center; font-weight: bold;">United Kingdom</div>
          </td>
        </tr>
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          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center;">(Address of principal executive office)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Form 20-F [X]&#160; &#160; &#160;&#160; Form 40-F [&#160; ]</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&#160; ].</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&#160; ].</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private
      issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the
      registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the
      subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
    <div><br>
    </div>
    <div><font style="font-size: 12pt;"> </font><br>
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    </div>
    <div style="text-align: center; margin-bottom: 8pt; font-weight: bold;">INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K</div>
    <div style="text-align: justify; margin-bottom: 8pt;">Attached as <a href="d9729556_ex99-1.htm">Exhibit 99.1</a> to this Report on Form 6-K (this &#8220;Report&#8221;) is a copy of
      the press release of Global Ship Lease, Inc. (the &#8220;Company&#8221;), dated August 4, 2022, reporting the Company&#8217;s financial results for the three and six months ended June 30, 2022.</div>
    <div style="margin-bottom: 8pt;"><br>
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    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z951a1b004101450ca67c3f3ba33ad4da">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="width: 50%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">GLOBAL SHIP LEASE, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="width: 50%; vertical-align: top;">
            <div style="text-align: justify;">(registrant)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="width: 50%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: justify;">Dated: August 4, 2022</div>
          </td>
          <td style="width: 8.46%; vertical-align: top;">
            <div style="text-align: justify;">By:</div>
          </td>
          <td style="width: 41.54%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: justify;">/s/ Ian J. Webber</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 8.46%; vertical-align: top;">&#160;</td>
          <td style="width: 41.54%; vertical-align: top;">
            <div style="text-align: justify;">Ian J. Webber</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 8.46%; vertical-align: top;">&#160;</td>
          <td style="width: 41.54%; vertical-align: top;">
            <div style="text-align: justify;">Chief Executive Officer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 8.46%; vertical-align: top;">&#160;</td>
          <td style="width: 41.54%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
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    <div style="font-size: 8pt;"><br>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d9729556_ex99-1.htm
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: right; margin-top: 12pt;">Investor and Media Contacts:</div>
    <div style="text-align: right;">The IGB Group</div>
    <div style="text-align: right;">Bryan Degnan</div>
    <div style="text-align: right;">646-673-9701</div>
    <div style="text-align: right;">or</div>
    <div style="text-align: right;">Leon Berman</div>
    <div style="text-align: right;">212-477-8438</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Global Ship Lease Reports Results for the Second Quarter of 2022</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 14pt;">Declares Dividend of $0.375 per Common Share</div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-weight: bold;">LONDON, ENGLAND &#8212; August 4, 2022</font> - Global Ship Lease, Inc. (NYSE:GSL) (the &#8220;Company&#8221;, &#8220;Global Ship Lease&#8221; or &#8220;GSL&#8221;), an owner of containerships, announced
      today its unaudited results for the three and six month periods ended June 30, 2022.</div>
    <div style="text-align: justify; margin-right: 9.55pt; margin-bottom: 12pt; font-weight: bold;">Second Quarter 2022 and Year to Date Highlights</div>
    <div style="text-align: justify; margin-bottom: 12pt;">- Reported operating revenue of $154.5 million for the second quarter 2022, almost double revenue of $82.9 million for the prior year period. For the six months ended June 30, 2022, operating
      revenue was $308.1 million, up 97.6% from $155.9 million in first half 2021.</div>
    <div style="text-align: justify;">- Reported net income available to common shareholders of $54.5 million for the second quarter of 2022, an increase of 81.1% or 1.8 times net income of $30.1 million for the prior year period. Normalized net income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup>
      was $67.4 million&#160; almost three times normalized net income of $23.7 million for the prior year period. Normalized net income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> is adjusted for a $2.1 million fair value adjustment on derivatives, the prepayment fee and associated
      non-cash write off of deferred financing charges of $14.1 million on the full repayment of our Hayfin Credit Facility, the non-cash write off of deferred financing charges of $0.3 million on the full repayment of our Hellenic Credit Facility and $0.6
      million premium paid on the redemption in April 2022 of $28.5 million aggregate principal amount of our 8.00% Senior Unsecured Notes due 2024 (the &#8220;2024 Notes&#8221;).&#160; Normalized net income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> for the prior year period is adjusted for a $7.8
      million net gain from sale of the 2,272 TEU 2001 built, containership, <font style="font-style: italic;">La Tour</font> and the prepayment fee of $1.4 million on the completion of the refinancing of our Deutsche, CIT, HCOB, Entrust, Blue Ocean
      Credit Facility (&#8220;Odyssia Credit Facilities&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify;">- For the six months ended June 30, 2022, net income available to common shareholders was $124.7 million. Normalized net income <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3) </sup>for the same period was $137.0 million, after a $6.6 million positive
      fair value adjustment on derivatives, the prepayment fee and associated non-cash write off of deferred financing charges of $14.1 million on the full repayment of our Hayfin Credit Facility, the non-cash write off of deferred financing charges of
      $0.3 million on the full repayment of our Hellenic Credit Facility, a $0.6 million premium paid on the redemption in April 2022 of $28.5 million aggregate principal amount of our 2024 Notes and the prepayment fee and associated non-cash write off of
      deferred financing charges of $4.1 million on the full repayment of our Blue Ocean Junior Credit Facility. For the six months ended June 30, 2021, net income available to common shareholders was $34.2 million. Normalized net income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> was
      $41.5 million for the same period, after a $5.8 million premium paid on the full optional redemption of our outstanding 9.875% Senior Secured Notes due 2022 (&#8220;2022 Notes&#8221;) on January 20, 2021, an associated non-cash write off of deferred financing
      charges of $3.7 million and of original issue discount of $1.1 million, a non-cash charge of $1.3 million for accelerated stock-based compensation expense, the prepayment fee of $1.6 million on the partial repayment of the Blue Ocean Junior Credit
      Facility, the prepayment fee of $1.4 million on the completion of the refinancing of our Odyssia Credit Facilities and the $7.8 million net gain from sale of <font style="font-style: italic;">La Tour</font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;">- Generated $95.3 million of Adjusted EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> for the second quarter 2022, almost twice Adjusted EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup> of $49.5 million for the prior year period. Adjusted EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)

      </sup>for the six months ended 30 June, 2022 was $189.9 million, two times Adjusted EBITDA<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3) </sup>of $93.8 million for the prior year period.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 1</font></div>
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    <div style="margin-bottom: 10pt;">
      <div style="text-align: justify; margin-bottom: 12pt;">- Earnings per share for the three months ended June 30, 2022 was $1.50, 1.8 times the earnings per share of $0.83 for the prior year period. Normalized earnings per share for the three months
        ended June 30, 2022 was $1.85, 2.8 times the Normalized earnings per share of $0.65 for the prior year period.</div>
      <div style="text-align: justify; margin-bottom: 12pt;">- Declared a dividend of $0.375 per Class A common share for the second quarter of 2022 to be paid on September 2, 2022 to common shareholders of record as of August 23, 2022. Paid a dividend of
        $0.375 per Class A common share for the first quarter of 2022 on June 2, 2022 to common shareholders of record as of May 24, 2022.</div>
      <div style="text-align: justify; margin-bottom: 12pt;">- Between July 14, 2022 and August 1, 2022 our corporate family credit ratings were improved by Moody&#8217;s, from B1 / Stable to B1 / Positive, and by S&amp;P Global, from BB- / Stable to BB /
        Stable.</div>
      <div style="text-align: justify; margin-bottom: 12pt;">-On June 17, 2022, announced the full redemption of our 2024 Notes of $89.0 million aggregate principal amount. The redemption was completed on July 18, 2022 at a price of 102.00% of the
        principal amount plus accrued and unpaid interest, up to but not including, the redemption date. Previously, on April 5, 2022, completed the partial redemption of $28.5 million principal amount of our 2024 Notes at a price equal to 102.00% of the
        principal amount plus accrued and unpaid interest.</div>
      <div style="text-align: justify;">-On June 16, 2022 our indirect wholly-owned subsidiary closed the private placement of $350.0 million of privately rated investment grade 5.69% Senior Secured Notes due 2027 (the &#8220;2027 USPP Notes&#8221;) to a limited
        number of accredited investors. Pricing on June 1, 2022 was based on the 3.2 year Interpolated US Treasury Yield (ICUR3.2) plus a spread of 2.85%. A portion of the net proceeds was used to repay the remaining outstanding balance of the Hayfin
        Facility (priced at LIBOR + 7.00%), and the outstanding balance of the Hellenic Facility (priced at LIBOR + 3.90%) &#8211; with the latter releasing five unencumbered ships. The remaining net proceeds were used to redeem all of the outstanding 2024 Notes
        in July 2022 and for general corporate purposes.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-bottom: 12pt;">- On May 12, 2022, announced our investment and participation in a carbon capture initiative led by Aqualung Carbon Capture AS (&#8220;Aqualung&#8221;), an innovator in carbon dioxide capture and separation
        technology, alongside other industry leaders in shipping, energy generation and infrastructure, and lithium production. We were invited to invest in Aqualung and to pool our technical expertise to support the application of Aqualung&#8217;s carbon
        capture solution to the maritime sector, with a particular focus on the development of containerized carbon capture units to be retrofit-able to containerships and other seagoing vessels.</div>
      <div style="text-align: justify; margin-bottom: 12pt;">- In April 2022, repurchased 184,684 Class A common shares at an average price of $26.66 per share for a total of $4.9 million under the authorized program of $40.0 million for opportunistic
        share repurchases.</div>
      <div style="text-align: justify;">- In February 2022, entered into USD 1-month LIBOR interest rate caps of 0.75% through fourth quarter 2026 on $507.9 million of floating rate debt, which reduces over time and represented the remaining balance of the
        outstanding floating rate debt, after entering a similar interest rate cap in December 2021, on $484.1 million of floating rate debt, which also reduces over time, leaving us fully hedged on our floating rate debt.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-bottom: 12pt;">- In January 2022, agreed an amendment to the existing $268.0 million Syndicated Senior Secured Credit Facility with an outstanding balance of $213.2 million, to extend the maturity date from
        September 2024 to December 2026, favorably amend certain covenants, and release three vessels from the facility&#8217;s collateral basket, at an unchanged rate of LIBOR + 3.00%. The three vessels were subsequently used as collateral for a new $60.0
        million syndicated senior secured debt facility, maturing in July 2026 and priced at LIBOR + 2.75%, which was used to fully repay our 10.00% Blue Ocean junior debt facility and for general corporate purposes.</div>
      <div style="text-align: justify;">- Between January 1 and August 3, 2022, contracted approximately $435.5 million of additional revenues, assuming median redelivery dates for the corresponding charters. Included were five forward fixtures of charters
        of four to five years duration each (one 8,600 TEU ship and four 4,000 &#8211; 4,250 TEU ships), one prompt fixture of just over three years for a 2,200 TEU feeder, and three charter extension options of 12 months each exercised by the charterers on
        three ships of 5,900 &#8211; 7,800 TEU.</div>
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        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 2</font></div>
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      <div style="margin-bottom: 10pt;">
        <div style="text-align: justify;">George Youroukos, Executive Chairman of Global Ship Lease, stated, &#8220;By operating our fleet at a high level of utilization and servicing our diversified portfolio of multi-year charters with high-quality
          counterparties throughout the second quarter, GSL once again generated excellent results and strong profits. Driven by the accretive growth and the extensive new longer term charters at higher rates that we mainly secured last year and which are
          coming into full effect in 2022, we have shown a substantial uplift in earnings which is largely locked in for multiple years; our adjusted EBITDA for the first half of 2022 is more than double its level in the prior year period. Following
          near-continuous rate strengthening since mid-2020, the charter market is presently in &#8220;wait-and-see&#8221; mode, as sources of macro uncertainty have grown more pronounced and charterers have been more inclined to take shorter charters on the very
          limited number of ships that have come into the charter market.&#160; That said, we have been very pleased to forward fix a number of our ships on multi-year charters in recent weeks and remain in active discussions with charterers about the potential
          for forward-fixing additional ships consistent with our conservative and risk-averse business model.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">In the mid-sized and smaller vessel classes where we operate, supply growth in the years ahead is modest compared to that for larger vessels.&#160; We believe that the combination of increasing regulation related to
          decarbonization, a relatively older global fleet, and a near-absence of scrapping in recent years suggests that net fleet growth in the mid-sized and smaller segments will remain very limited through the foreseeable future.&#160; As we deploy CAPEX on
          a disciplined basis to maximize the useful life of our fleet and ensure a continued high level of performance and competitiveness in the evolving regulatory environment, we are focused on utilizing proven solutions to improve fuel efficiency
          while also monitoring promising new decarbonization solutions, such as the Aqualung carbon capture venture in which we made a limited investment during the quarter. With $1.9 billion of contracted revenue over an average remaining duration of 2.6
          years, more than enough to fully cover expenses, debt service, CAPEX, and dividends, while also building cash liquidity to manage any challenges and capitalize on opportunities that may lie ahead, Global Ship Lease is well placed to continue
          creating additional value for our shareholders.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">I would like to take this opportunity to thank Hank Mannix, who recently stood down as a Director of Global Ship Lease.&#160; Hank has been a Director since the merger with Poseidon Containers in late 2018, having been
          a director of Poseidon for many years.&#160; During his time, we have greatly valued his advice and wish him well for the future.&#160; And I am delighted to welcome Ulrike Helfer to the Board.&#160; Ulrike has more than 40 years of experience in the finance
          industry, of which more than 20 have been in ship finance. Since 2016 Ulrike has been a Member of the Board of Managing Directors of portfoliomanagement A&#246;R, where she and her team have been responsible for the successful wind-down of a &#8364;4.2
          billion shipping loan portfolio previously spun off from HSH Nordbank AG.&#8221;</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Ian Webber, Chief Executive Officer of Global Ship Lease, commented, &#8220;With our fleet already fully chartered through this year and nearly all of 2023, we have remained highly active in strengthening our balance
          sheet in a sustainable, long-term manner. In this uncertain macro environment of increased interest rates, we are delighted to have raised in the US private placement market $350 million of privately rated investment grade Senior Secured Notes
          due 2027 at a total interest cost of 5.69%, based on 2.84% 3.2 year Interpolated US Treasury Yield plus a margin of 2.85%. We have thus unlocked a new pool of capital, secured an attractive, fixed rate financing, and released five unencumbered
          vessels, while substantially streamlining and enhancing our capital structure by eliminating higher priced debt. Having taken these actions to reduce our average margin from 4.62% at the start of the year to 3.05% today, with floating interest
          rate exposure fully capped at 0.75% LIBOR, Global Ship Lease is financially stronger and more flexible than we have ever been.&#8221;</div>
        <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 3</font></div>
          <div id="DSPFPageBreak" style="page-break-after:always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="margin-bottom: 10pt;">
          <div style="margin-bottom: 12pt; font-weight: bold;">SELECTED FINANCIAL DATA &#8211; UNAUDITED</div>
          <div style="margin-bottom: 12pt; font-style: italic;">(thousands of U.S. dollars)</div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zc01b59588c374f629dfd92e17881ebc5" class="cfttable">

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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Three</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Three</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Six</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Six</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;"><u> </u>June 30, 2022</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">June 30, 2021</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">June 30, 2022</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">June 30, 2021</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                  <div>Operating Revenue <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>154,456</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>82,871</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>308,087</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>155,851</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                  <div>Operating Income</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>84,766</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>45,404</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>170,882</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>75,676</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                  <div>Net Income <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>54,531</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>30,065</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>124,713</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>34,224</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                  <div>Adjusted EBITDA <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>95,332</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>49,510</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>189,870</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>93,751</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                  <div>Normalized Net Income <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>67,366</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>23,733</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>137,035</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>41,498</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              </tr>

          </table>
          <div style="text-align: justify; margin-bottom: 12pt;">(1) Operating Revenue is net of address commissions which represent a discount provided directly to a charterer based on a fixed percentage of the agreed upon charter rate and also includes
            the amortization of intangible liabilities. Brokerage commissions are included in &#8220;Time charter and voyage expenses&#8221;.</div>
          <div style="text-align: justify; margin-bottom: 12pt;">(2) Net Income available to common shareholders.</div>
          <div style="text-align: justify; margin-bottom: 12pt;">(3) Adjusted EBITDA, Normalized Net Income and Normalized Earnings Per Share are non-U.S. Generally Accepted Accounting Principles (&#8220;U.S. GAAP&#8221;) financial measures, as explained further in
            this press release, and are considered by Global Ship Lease to be a useful measure of its performance. For reconciliations of these non-U.S. GAAP financial measure to net income or earnings per share as reported, the most directly comparable
            U.S. GAAP financial measures, please see &#8220;Reconciliation of Non-U.S. GAAP Financial Measures&#8221; below.</div>
          <div style="text-align: justify; margin-bottom: 12pt; font-style: italic;">Revenue and Utilization</div>
          <div style="text-align: justify; margin-bottom: 12pt;">Revenue from fixed-rate, mainly long-term, time-charters was $154.5 million in the three months ended June 30, 2022, up $71.6 million (or 86.4%) on revenue of $82.9 million for the prior year
            period. The period-on-period increase in revenue was principally due to (i) a 39.0% increase in ownership days, due to the net acquisition of 22 vessels in 2021, all of which were delivered after March 31, 2021, resulting in 5,915 ownership
            days in the second quarter 2022, compared to 4,255 in the second quarter 2021, (ii) increased revenue on charter renewals at higher rates on 12 vessels, (iii) $8.6 million credit from amortization of intangible liabilities arising on
            below-market charters attached to certain vessel additions partially offset by an increase in unplanned offhire days from 36 in the second quarter of 2021 to 154 days in the same quarter of 2022. The 154 days of unplanned offhire in the second
            quarter of 2022 include an aggregate of 125 days for main engine damages for two ships and 19 days for damage to a diesel generator in one ship. The 82 days of planned offhire for drydockings in the second quarter 2022 were attributable to four
            regulatory drydockings in progress or completed, while in the comparative period of 2021, the 168 days of planned offhire were mainly attributable to five regulatory drydockings. Idle time was 30 days in the second quarter of 2022, compared to
            12 days in the comparative period. Utilization for the second quarter of 2022 was 95.5% compared to utilization of 94.9% in the same period of the prior year.</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 4</font></div>
            <div id="DSPFPageBreak" style="page-break-after:always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
          </div>
          <div style="margin-bottom: 10pt;">
            <div style="text-align: justify; margin-right: 9.55pt; margin-bottom: 12pt;">For the six months ended June 30, 2022, revenue was $308.1 million, up $152.2 million (or 97.6%) on revenue of $155.9 million in the comparative period, mainly due to
              the factors noted above.</div>
            <div style="text-align: justify;">The table below shows fleet utilization for the three and six months ended June 30, 2022 and 2021, and for the years ended December 31, 2021, 2020, 2019 and 2018.</div>
            <div><br>
            </div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z3e945be8b24c4649a8b612b191ac5f8b" class="cfttable">

                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="6">
                    <div style="text-align: center;">Three months ended</div>
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                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
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                    <div style="text-align: center;">Six months ended</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">
                    <div style="text-align: right;">June 30,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">
                    <div style="text-align: right;">June 30,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">
                    <div style="text-align: right;">June 30,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
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                    <div style="text-align: right;">Dec 31,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">
                    <div style="text-align: right;">Dec 31,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">
                    <div style="text-align: right;">Dec 31,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">
                    <div style="text-align: right;">Dec 31,</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; padding-bottom: 2px;">
                    <div>Days</div>
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                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2022</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2021</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2022</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2021</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2021</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2020</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2019</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                    <div style="text-align: right;">2018</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle;" colspan="2">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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                <tr>
                  <td valign="bottom" style="vertical-align: middle; width: 20%; background-color: #CCEEFF;">
                    <div>Ownership days</div>
                  </td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>5,915</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>4,255</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>11,765</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>8,125</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>19,427</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>16,044</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>14,326</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>7,675</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" style="vertical-align: middle; width: 20%;">
                    <div>Planned offhire - scheduled drydock</div>
                  </td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(82</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(168</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(309</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(195</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(752</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(687</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(537</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">
                    <div>(34</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                    <div>)</div>
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                    <div>(154</div>
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                    <div>(36</div>
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                    <div>(236</div>
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                    <div>(61</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>(260</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>(95</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>(105</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>(17</div>
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                <tr>
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                    <div>(30</div>
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                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                    <div>(12</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                    <div>(30</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                    <div>)</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>5,649</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>7,577</div>
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                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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                <tr>
                  <td valign="bottom" style="vertical-align: middle; width: 20%;">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%;" colspan="1" class="cftnumcell">&#160;</td>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>95.1</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>96.5</div>
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                    <div>%</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <div>94.3</div>
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                    <div>%</div>
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                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>93.0</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                    <div>%</div>
                  </td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>94.4</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                    <div>%</div>
                  </td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                    <div>98.7</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                    <div>%</div>
                  </td>
                </tr>

            </table>
            <div><br>
            </div>
            <div><br>
            </div>
            <div style="text-align: justify; margin-bottom: 12pt;">Two drydockings to meet regulatory requirements were completed in the second quarter 2022 and, as of June 30, 2022, two more drydockings were in progress. In 2022, we anticipate 11 further
              drydockings.</div>
            <div style="text-align: justify; margin-bottom: 12pt; font-style: italic;">Vessel Operating Expenses</div>
            <div style="text-align: justify; margin-bottom: 12pt;">Vessel operating expenses, which primarily include costs of crew, lubricating oil, repairs, maintenance, insurance and technical management fees, were up 47.3% to $41.4 million for the
              second quarter 2022, compared to $28.1 million in the comparative period. The increase of $13.3 million was mainly due to 1,660, or 39.0%, net additional ownership days in the second quarter 2022 as the result of the net acquisition of 22
              vessels in 2021, all of which were delivered after March 31, 2021. The average cost per ownership day in the quarter was $7,006, compared to $6,609 for the prior year period, up $397 per day, or 6.0% mainly due to increased crew expenses as a
              result of COVID-19 and the conflict in Ukraine, increased insurance costs and increased lubricant expenses as a result of higher oil prices.</div>
            <div style="text-align: justify; margin-right: 5.05pt; margin-bottom: 12pt;">For the six months ended June 30, 2022, vessel operating expenses were $80.9 million, or an average of $6,875 per day, compared to $52.4 million in the comparative
              period, or $6,450 per day, an increase of $425 per ownership day, or 6.6%.</div>
            <div style="margin-bottom: 12pt; font-style: italic;">Time Charter and Voyage Expenses</div>
            <div style="text-align: justify; margin-bottom: 12pt;">Time charter and voyage expenses comprise mainly commission paid to ship brokers, the cost of bunker fuel for owner&#8217;s account when a ship is off-hire or idle and miscellaneous owner&#8217;s costs
              associated with a ship&#8217;s voyage. Time charter and voyage expenses were $5.1 million for the second quarter 2022, compared to $2.1 million in the second quarter of 2021. The increase was mainly due to the commissions of the 22 vessels acquired
              in 2021, all of which were delivered after March 31, 2021, plus higher costs for bunker fuel for owner&#8217;s account due to increase in unplanned off hire days additional voyage administration costs and other voyage expenses mainly related to
              COVID 19 port restrictions and additional operational requests from charterers.</div>
            <div style="text-align: justify; margin-right: 5.05pt; margin-bottom: 12pt;">For the six months ended June 30, 2022, time charter and voyage expenses were $9.5 million, or an average of $804 per day, compared to $3.9 million in the comparative
              period, or $479 per day, an increase of $325 per ownership day, or 67.8%.</div>
            <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 5</font></div>
              <div id="DSPFPageBreak" style="page-break-after:always;">
                <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
            </div>
            <div style="margin-bottom: 10pt;">
              <div style="text-align: justify; font-style: italic;">Depreciation and Amortization</div>
              <div><br>
              </div>
              <div style="text-align: justify;">Depreciation and amortization for the second quarter 2022 was $20.3 million, compared to $13.1 million in the second quarter of 2021. The increase was mainly due to the net acquisition of 22 vessels in 2021,
                all of which were delivered after March 31, 2021 and the 14 drydockings that have been completed since July 1, 2021, including five drydockings for vessels acquired in 2021.</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 5.05pt;">Depreciation for the six months ended June 30, 2022 was $40.1 million, compared to $25.5 million in the comparative period, with the increase being due to the net acquisition of 22
                vessels in 2021, all of which were delivered after March 31, 2021.</div>
              <div><br>
              </div>
              <div style="margin-right: 5.05pt; margin-bottom: 12pt; font-style: italic;">Gain on sale of vessel</div>
              <div style="text-align: justify; margin-right: 5.05pt; margin-top: 12pt; margin-bottom: 12pt;">The 2001-built, 2,272 TEU containership, <font style="font-style: italic;">La Tour,</font> was sold on June 30, 2021 for net proceeds of $16.5
                million resulting in a gain of $7.8 million.</div>
              <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">General and Administrative Expenses</div>
              <div style="text-align: justify;">General and administrative expenses were $2.9 million in the second quarter 2022, compared to $1.9 million in the second quarter of 2021. The increase was mainly due to the non-cash effect of stock-based
                compensation expense due to vesting recorded in the second quarter of 2022. The average general and administrative expense per ownership day for the second quarter 2022 was $486, compared to $436 in the comparative period, an increase of
                $50 or 11.5%.</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 5.05pt;">For the six months ended June 30, 2022, general and administrative expenses were $6.7 million, compared to $6.1 million in the comparative period mainly due to the non-cash effect of
                accelerated stock-based compensation expense recognized in the first and second quarter of 2022. The average general and administrative expense per ownership day for the six-month period ended June 30, 2022 was $572, compared to $755 in the
                comparative period, a decrease of $183 or 24.2%. The decrease in average general and administrative expenses is due to the increase in ownership days following the net acquisition of 22 vessels in 2021, all of which were delivered after
                March 31, 2021.</div>
              <div><br>
              </div>
              <div style="font-style: italic;">Adjusted EBITDA</div>
              <div><br>
              </div>
              <div style="text-align: justify;">Adjusted EBITDA was $95.3 million for the second quarter 2022, up from $49.5 million for the second quarter of 2021, with the net increase being mainly due the net acquisition of 22 vessels in 2021, all of
                which were delivered after March 31, 2021 and increased revenue from charter renewals at higher rates.</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 5.05pt;">Adjusted EBITDA for the six months ended June 30, 2022 was $189.9 million, compared to $93.8 million for the comparative period, with the increase being due to the net acquisition of 22
                vessels in 2021, all of which were delivered after March 31, 2021.</div>
              <div><br>
              </div>
              <div style="font-style: italic;">Interest Expense and Interest Income</div>
              <div><br>
              </div>
              <div style="text-align: justify;">Debt as at June 30, 2022 totaled $1,125.7 million, comprising $526.7 million of secured bank debt collateralized by vessels, $350.0 million of 2027 USPP Notes collateralized by vessels, $160.0 million under
                sale and leaseback financing transactions and $89.0 million of unsecured indebtedness on our 2024 Notes which were fully redeemed in July 2022. As of June 30, 2022, five of our vessels were unencumbered.</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 5.05pt;">Debt as at June 30, 2021 totaled $835.4 million, comprising $684.2 million secured debt collateralized by our vessels, $68.7 million from sale and leaseback financing transactions and
                $82.5 million of unsecured indebtedness on our 2024 Notes. As of June 30, 2021, none of our vessels were unencumbered.</div>
              <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 6</font></div>
                <div id="DSPFPageBreak" style="page-break-after:always;">
                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
              </div>
              <div style="margin-bottom: 10pt;">
                <div style="text-align: justify;">Interest and other finance expenses for the second quarter 2022 was $30.0 million, up from $14.0 million for the second quarter of 2021. The increase was mainly due to $0.6 million premium paid on the
                  partial redemption of the 2024 Notes in April 2022, the prepayment fee and the associated non-cash write off of deferred financing charges of $14.1 million on the full repayment of Hayfin Credit Facility, the non-cash write off of
                  deferred financing charges of $0.3 million on the full repayment of Hellenic Credit Facility, compared to a prepayment fee of $1.4 million on the refinancing of the Odyssia Credit Facilities and interest on new loans with Hamburg
                  Commercial Bank AG and new sale and leaseback agreements with Neptune Maritime Leasing and with CMB Financial Leasing Co. Ltd., all for vessel acquisitions, offset by a decrease in our blended cost of debt from approximately 5.08% for
                  second quarter 2021 to 4.51% for second quarter 2022, as a result of the refinancings although three month Libor has increased in second quarter of 2022 to 1.30% as compared to 0.17% in second quarter of 2021.</div>
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 5.05pt;">Interest and other finance expenses for the six months ended June 30, 2022 was $48.7 million, up from $39.3 million for the comparative period. The increase is mainly due to a
                  prepayment fee and the associated non-cash write off of deferred financing charges of $14.1 million on the full repayment of the Hayfin Credit Facility, the non-cash write off of deferred financing charges of $0.3 million on the full
                  repayment of the Hellenic Credit Facility, $0.6 million premium paid on the redemption in April of $28.5 million of&#160; 2024 Notes and a prepayment fee&#160; and the associated non-cash write off of deferred financing charges of $4.1 million on
                  the full repayment of the Blue Ocean Junior Credit Facility&#160; compared to $5.8 million premium paid on the redemption in full of the 2022 Notes in January 2021 plus the acceleration of deferred financing charges of $3.7 million, and the
                  acceleration of amortization of original issue discount associated with the redemption of the 2022 Notes of $1.1 million plus the prepayment fee of $1.6 million paid on the partial repayment of the Blue Ocean Junior Credit Facility, plus
                  the prepayment fee of $1.4 million paid on the repayment and completion of the refinancing of the Odyssia Credit Facilities.</div>
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 5.05pt;">Interest income for the second quarter 2022 was $0.27 million, up from $0.12 million for the second quarter of 2021.&#160; Interest income for the six months period ended June 30, 2022 was
                  $0.5 million, compared to $0.4 million for the comparative period.</div>
                <div><br>
                </div>
                <div style="font-style: italic;">Other (expenses)/income, Net</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Other expenses, net was $0.2 million in the second quarter 2022, compared to an income of $0.5 million in the second quarter of 2021. Other income, net was $0.2 million for the six month period ended June
                  30, 2022, compared to $0.9 million for the comparative period.</div>
                <div><br>
                </div>
                <div style="font-style: italic;">Fair value adjustment on derivatives</div>
                <div><br>
                </div>
                <div style="text-align: justify;">In December 2021, we entered into a USD 1 month LIBOR interest rate cap of 0.75% through fourth quarter 2026 on $484.1 million of floating rate debt, which reduces over time and represented approximately
                  half of the outstanding floating rate debt. In February 2022, we entered into two additional USD 1-month LIBOR interest rate caps of 0.75% through fourth quarter 2026 on the remaining balance of $507.9 million of floating rate debt. One
                  of these interest rate caps was not designated as a cash flow hedge and therefore the positive fair value adjustment of $2.1 million for the second quarter of 2022 was recorded through our statement of income. The positive fair value
                  adjustment for the six month period ended June 30, 2022 amounted to $6.6 million.</div>
                <div><br>
                </div>
                <div style="text-align: justify; font-style: italic;">Earnings Allocated to Preferred Shares</div>
                <div>
                  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">Our Series B Preferred Shares carry a coupon of 8.75%, the cost of which for the second quarter 2022 was $2.4 million, compared to $2.0 million for the second
                    quarter 2021. The increase was due to additional Series B Preferred Shares issued under our ATM program since July 1, 2021.&#160; The cost was $4.8 million in the six months ended June 30, 2022, compared to $3.5 million for the comparative
                    period.</div>
                </div>
                <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 7</font></div>
                  <div id="DSPFPageBreak" style="page-break-after:always;">
                    <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                </div>
                <div style="margin-bottom: 10pt;"><br>
                </div>
                <div style="text-align: justify; font-style: italic;">Net Income Available to Common Shareholders</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Net income available to common shareholders for the three months ended June 30, 2022 was $54.5 million. Net income available to common shareholders for the three months ended June 30, 2021 was $30.1
                  million.</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Earnings per share for the three months ended June 30, 2022 was $1.50, an increase of 80.7% from the earnings per share for the comparative period, which was $0.83.</div>
                <div><br>
                </div>
                <div style="text-align: justify;">For the six months ended June 30, 2022, net income available to common shareholders was $124.7 million. For the six months ended June 30, 2021, net income available to common shareholders was $34.2 million.</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Earnings per share for the six months ended June 30, 2022 was $3.41, an increase of 241.0% from the earnings per share for the comparative period, which was $1.00.</div>
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 5.05pt;">Normalized net income (a non-GAAP financial measure) for the three months ended June 30, 2022, was $67.4 million adjusting for $2.1 million fair value adjustment on derivatives, the
                  prepayment fee and the associated non-cash write off of deferred financing charges of $14.1 million on the full repayment of the Hayfin Credit Facility, the non-cash write off of deferred financing charges of $0.3 million on the full
                  repayment of the Hellenic Credit Facility and $0.6 million premium paid on the redemption in April of $28.5 million of&#160; 2024 Notes.&#160; Normalized net income for the three months ended June 30, 2021, was $23.7 million, adjusting for the $7.8
                  million net gain on the sale of <font style="font-style: italic;">La Tour </font>and the prepayment fee of $1.4 million paid on the repayment of the Odyssia Credit Facilities.</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Normalized earnings per share (a non-GAAP financial measure) for the three months ended June 30, 2022 was $1.85, an increase of 184.6% from Normalized earnings per share for the comparative period, which
                  was $0.65.</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Normalized net income for the six months ended June 30, 2022, was $137.0 million adjusting for $6.6 million fair value adjustment on derivatives, the prepayment fee and the associated non-cash write off of
                  deferred financing charges&#160; of $14.1 million on the full repayment of the Hayfin Credit Facility, the non-cash write off of deferred financing charges of $0.3 million on the full repayment of the Hellenic Credit Facility, $0.6 million
                  premium paid on the redemption in April of $28.5 million of&#160; 2024 Notes and the prepayment fee and the associated non-cash write off of deferred financing charges&#160; of $4.1 million on the full repayment of the Blue Ocean Junior Credit
                  Facility. Normalized net income for the six months period ended June 30, 2021 was $41.5 million adjusting for the $7.8 million net gain on the sale of <font style="font-style: italic;">La Tour, </font>the prepayment fee of $1.6 million
                  on the partial repayment of the Blue Ocean Junior Credit Facility, the prepayment fee of $1.4 million on the completion of the refinancing of the Odyssia Credit Facilities, the non-cash effect of $1.3 million for accelerated stock-based
                  compensation expense,&#160; $5.8 million premium paid on the redemption in full of the 2022 Notes in January 2021, and the associated accelerated amortization of $3.7 million deferred financing charges and $1.1 million original issue discount.
                  Normalized net income in the comparative period was $24.4 million, adjusting for $8.5 million non-cash impairment charges associated with the decision to dispose of <font style="font-style: italic;">GSL Matisse </font>and<font style="font-style: italic;"> Utrillo,</font> the non-cash effect of $0.4 million for accelerated stock-based compensation expense and $2.3 million premium paid on the redemption of $46.0 million of the 2022 Notes in February 2020.</div>
                <div><br>
                </div>
                <div style="text-align: justify;">Normalized earnings per share for the six months ended June 30, 2022 was $3.75, an increase of 207.4% from Normalized earnings per share for the comparative period, which was $1.22.</div>
                <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 8</font></div>
                  <div id="DSPFPageBreak" style="page-break-after:always;">
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                </div>
                <div>
                  <div style="font-style: italic;">Fleet</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify;">As at August 3, 2022, we had 65 containerships in our fleet<font style="font-style: italic;">.</font></div>
                  <div><br>
                  </div>
                  <table cellspacing="0" cellpadding="0" border="0" id="z81dc80a2ce604f67b2f9355b1d8e27ca" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td nowrap="nowrap" style="width: 20.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                          <div style="font-size: 8pt; font-weight: bold;">&#160; Vessel Name</div>
                        </td>
                        <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Capacity in TEUs</div>
                        </td>
                        <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Lightweight (tons)</div>
                        </td>
                        <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Year Built</div>
                        </td>
                        <td style="width: 10%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Charterer</div>
                        </td>
                        <td style="width: 14%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Earliest Charter Expiry Date</div>
                        </td>
                        <td style="width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt;"><font style="font-weight: bold;">Latest Charter Expiry Date</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (2)</sup></div>
                        </td>
                        <td style="width: 13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: center; font-size: 8pt; font-weight: bold;">Daily Charter Rate $</div>
                        </td>
                      </tr>
                      <tr>
                        <td nowrap="nowrap" style="width: 20.4%; vertical-align: middle;">&#160;</td>
                        <td style="width: 10%; vertical-align: bottom;">&#160;</td>
                        <td style="width: 10%; vertical-align: bottom;">&#160;</td>
                        <td style="width: 10%; vertical-align: bottom;">&#160;</td>
                        <td style="width: 10%; vertical-align: bottom;">&#160;</td>
                        <td style="width: 14%; vertical-align: middle;">&#160;</td>
                        <td style="width: 13%; vertical-align: bottom;">&#160;</td>
                        <td style="width: 13%; vertical-align: middle;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">CMA CGM Thalassa</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,040</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">38,577</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">47,200</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="font-size: 8pt;">&#160;&#160;&#160;&#160;ZIM Norfolk (ex UASC Al Khor) <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">9,115</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">31,764</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2015</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">ZIM <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q27 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q27 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">65,000 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Anthea Y <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">9,115</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">31,890</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2015</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">COSCO</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">38,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">ZIM Xiamen (ex Maira XL)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">9,115</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">31,820</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2015</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">ZIM <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q27 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q27 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">65,000 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">MSC Tianjin</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">8,603</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">34,325</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2005</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">MSC</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">19,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">MSC Qingdao <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">8,603</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">34,609</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">MSC</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">23,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Ningbo</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">8,603</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">34,340</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">MSC</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q27 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">22,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Eleni</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">7,847</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">29,261</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">16,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Kalliopi</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">7,847</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">29,105</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q24 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">14,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Grania</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">7,847</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">29,190</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">14,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Mary <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,927</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">23,424</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2013</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">25,910</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Kristina <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,927</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">23,421</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2013</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,910</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Katherine <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,927</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">23,403</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2013</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">25,910</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Alexandra <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,927</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">23,348</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2013</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,910</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Alexis <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,882</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">23,919</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2015</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">25,910</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Olivia I <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,882</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">23,864</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2015</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,910</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Christen</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,840</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">27,954</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2002</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">35,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Nicoletta</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,840</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">28,070</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2002</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">35,750</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">CMA CGM Berlioz</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,621</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">26,776</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">37,750</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Agios Dimitrios <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,572</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">24,931</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2011</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">MSC</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">20,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Vinia</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,080</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">23,737</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">13,250</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Christel Elisabeth</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,080</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">23,745</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2004</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">13,250</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Dorothea</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,992</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">24,243</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Arcadia</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">24,858</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Violetta</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">24,873</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Maria</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">24,414</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL MYNY</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">6,008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">24,873</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Melita</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">6,008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">24,848</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Tegea</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,992</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">24,308</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">18,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Tasman</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">5,936</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,010</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">12,000 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(8)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">ZIM Europe</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,936</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">25,010</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">ZIM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">24,250</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Ian H</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">5,936</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,128</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">ZIM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">32,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Tripoli</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,470</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">22,259</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2009</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">36,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Kithira</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">5,470</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">22,108</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2009</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">36,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Tinos</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,470</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">22,067</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2010</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">36,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Syros</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">5,470</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">22,098</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2010</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">36,500 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(9)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Dolphin II</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,095</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">20,596</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2007</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">OOCL</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">53,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Orca I</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">5,095</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">20,633</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2006</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">21,000<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (10)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">CMA CGM Alcazar</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,089</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">20,087</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2007</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">35,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Ch&#226;teau d&#8217;If</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">5,089</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">19,994</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2007</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">35,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Susan</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4,363</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">17,309</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q27</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">22,000 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(11)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">CMA CGM Jamaica</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4,298</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">17,272</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2006</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q28</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q28</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,350 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(11)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">CMA CGM Sambhar</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4,045</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">17,429</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2006</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q28</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q28</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">25,350 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(11)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">CMA CGM America</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4,045</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">17,428</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2006</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q28</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q28</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">25,350 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(11)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Rossi</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3,421</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">16,420</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2012</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Gold Star/ZIM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q26</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">38,875</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Alice</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3,421</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">16,543</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2014</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">21,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Eleftheria</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3,404</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">16,642</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2013</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">37,975</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Melina</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3,404</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">16,703</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2013</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Maersk</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">24,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Valerie</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,824</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,971</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2005</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">ZIM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">35,600 <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(12)</sup></div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Matson Molokai</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,824</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,949</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2007</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Matson</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">36,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Lalo</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,824</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,950</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2006</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">ONE</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q22</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">18,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Mercer</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,824</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,970</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2007</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">ONE</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">35,750</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Athena</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,762</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">13,538</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2003</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Hapag-Lloyd</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">21,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Elizabeth</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,741</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,507</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2006</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">ONE</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">3Q22</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">18,500</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">&#160;Tbr GSL Chloe</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,546</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">12,212</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2012</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">ONE</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">33,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Maren</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,546</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">12,243</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2014</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Westwood</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q22</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">19,250</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Maira</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,506</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,453</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Hapag-Lloyd</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">14,450</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Nikolas</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,506</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,370</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2000</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">16,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Newyorker</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,506</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,463</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">20,700</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Manet</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,272</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,727</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2001</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">OOCL</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">32,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Keta</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,207</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,731</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2003</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">25,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Julie</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,207</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,731</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2002</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">Sea Consortium</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">20,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Kumasi</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2,207</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,791</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2002</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">Wan Hai</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">38,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle;">
                          <div style="text-indent: 8pt; font-size: 8pt;">Akiteta</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2,207</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">11,731</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">2002</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">OOCL</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">4Q24</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">1Q25</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle;">
                          <div style="text-align: center; font-size: 8pt;">32,000</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.4%; vertical-align: middle; background-color: #CCECFF;">
                          <div style="text-indent: 8pt; font-size: 8pt;">GSL Amstel</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">1,118</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">5,167</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">2008</div>
                        </td>
                        <td nowrap="nowrap" style="width: 10%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">CMA CGM</div>
                        </td>
                        <td nowrap="nowrap" style="width: 14%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">3Q23</div>
                        </td>
                        <td nowrap="nowrap" style="width: 13%; vertical-align: middle; background-color: rgb(204, 236, 255);">
                          <div style="text-align: center; font-size: 8pt;">11,900</div>
                        </td>
                      </tr>

                  </table>
                  <div><br>
                  </div>
                  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 9</font></div>
                    <div id="DSPFPageBreak" style="page-break-after:always;">
                      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                  </div>
                  <div style="margin-bottom: 10pt;">
                    <table cellspacing="0" cellpadding="0" border="0" id="zaaaf02000aec44468df0d40d180220b3" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(1)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">Modern design, high reefer capacity, fuel-efficient vessel.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(2)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">In many instances charterers have the option to extend a charter beyond the nominal latest expiry date by the amount of time
                              that the vessel was off hire during the course of that charter. This additional charter time (&#8220;Offhire Extension&#8221;) is computed at the end of the initially contracted charter period. The Latest Charter Expiry Dates shown in
                              this table have been adjusted to reflect offhire accrued up to the date of issuance of this release plus estimated offhire scheduled to occur during the remaining lifetimes of the respective charters. However, as actual
                              offhire can only be calculated at the end of each charter, in some cases actual Offhire Extensions &#8211; if invoked by charterers &#8211; may exceed the Latest Charter Expiry Dates indicated.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(3)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">ZIM Norfolk (ex UASC Al Khor) &amp; ZIM Xiamen (ex Maira XL). On November 22, 2021 we announced the forward fixture of these two
                              ships, upon the expiry of their existing charters in the second and third quarters of 2022, respectively, for approximately five years each at a charter rate of $65,000 per day.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(4)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">MSC Qingdao &amp; Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (&#8220;scrubbers&#8221;).</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(5)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">GSL Ningbo chartered to MSC at $22,500 per day to July 2023. Thereafter, the charter has been extended by 48 to 52 months, at a
                              rate expected to generate annualized Adjusted EBITDA of approximately $16.6 million.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(6)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">GSL Eleni (delivered 2Q 2019) is chartered for five years; GSL Kalliopi (delivered 4Q 2019) and GSL Grania (delivered 3Q 2019)
                              are chartered for three years plus two successive periods of one year each, at the option of the charterer. For GSL Kalliopi and GSL Grania the first option periods were exercised in May 2022. During the option periods the
                              charter rates for GSL Kalliopi and GSL Grania are $18,900 per day and $17,750 per day respectively, with these new rates to apply from 3Q 2022.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(7)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">Contract cover for each ship is for a firm period of at least three years from the date each vessel was delivered, with
                              charterers holding a one-year extension option on each charter (at a rate of $12,900 per day), followed by a second option (at a rate of $12,700 per day) with the period determined by &#8211; and terminating prior to &#8211; each vessel&#8217;s
                              25<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> year drydocking &amp; special survey.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(8)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">Tasman. 12-month extension at charterer&#8217;s option was declared in May 2022, at an increased rate of $20,000 per day. The new rate
                              is to apply from 3Q 2022.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(9)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">Ultra-high reefer ships of 5,470 TEU each. Contract cover on each ship is for a firm period of three years at a rate of $36,500
                              per day, with a period of an additional three years (at $17,250 per day) at charterers&#8217; option.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(10)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">Orca I. Chartered at $21,000 per day through to the median expiry of the charter in 2Q2024; thereafter the charterer has the
                              option to charter the vessel for a further 12-14 months at the same rate.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(11)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">GSL Susan, CMA CGM Jamaica, CMA CGM Sambhar and CMA CGM America. In July 2022, these four vessels were forward fixed for five
                              years +/- 45 days at charter rates expected to generate annualized Adjusted EBITDA of approximately $11.3 million per vessel. The new charter for GSL Susan is scheduled to commence in late 2022, while those for the other three
                              ships are due to commence towards the end of 1Q 2023.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 6%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">(12)</div>
                          </td>
                          <td style="width: 94%; vertical-align: top;">
                            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-style: italic;">GSL Valerie. Chartered to ZIM at an average rate of $35,600 per day-$40,000 for the first 12 months, $36,000 for the next 12
                              months and $32,000 for the remaining period.</div>
                          </td>
                        </tr>

                    </table>
                    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 10</font></div>
                      <div id="DSPFPageBreak" style="page-break-after:always;">
                        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                    </div>
                    <div style="margin-bottom: 10pt;">
                      <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Conference Call and Webcast</div>
                      <div style="text-align: justify; margin-bottom: 12pt;">Global Ship Lease will hold a conference call to discuss the Company's results for the three and six months ended June 30, 2022 today, Thursday August 4, 2022 at 12:00 p.m.
                        Eastern Time. There are two ways to access the conference call:</div>
                      <div style="text-align: justify; margin-left: 36pt;">(1)&#160; Dial-in: (800) 715-9871 or (646) 307-1963; Passcode: 2236251</div>
                      <div><br>
                      </div>
                      <div style="text-align: justify; margin-left: 18pt;">Please dial in at least 10 minutes prior to 12:00 p.m. Eastern Time to ensure a prompt start to the call.</div>
                      <div><br>
                      </div>
                      <div style="text-align: justify; margin-left: 36pt;">(2)&#160; Live Internet webcast and slide presentation: http://www.globalshiplease.com</div>
                      <div><br>
                      </div>
                      <div style="text-align: justify;">If you are unable to participate at this time, a replay of the call will be available&#160; through Thursday, August 18, 2022 at (800) 770-2030 or (609) 800-9909. Enter the code 2236251 to access the audio
                        replay. The webcast will also be archived on the Company&#8217;s website: <u>http://www.globalshiplease.com</u></div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div style="text-align: justify; font-weight: bold;">Annual Report on Form 20-F</div>
                      <div><br>
                      </div>
                      <div style="text-align: justify;">The Company&#8217;s Annual Report for 2021 was filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) on March 24, 2022. A copy of the report can be found under the Investor Relations section
                        (Annual Reports) of the Company&#8217;s website at http://www.globalshiplease.com or on the Commission&#8217;s website at www.sec.gov.&#160; Shareholders may request a hard copy of the audited financial statements free of charge by contacting the
                        Company at info@globalshiplease.com or by writing to Global Ship Lease, Inc, care of Global Ship Lease Services Limited, 25 Wilton Road, London SW1V ILW.</div>
                      <div style="text-align: justify;"> <br>
                      </div>
                      <div>
                        <div style="text-align: justify; font-family: 'Times New Roman',serif; font-weight: bold;">About Global Ship Lease</div>
                        <div>
                          <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Global Ship Lease is a leading independent owner of containerships with a diversified fleet of
                            mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top
                            tier container liner companies. It was listed on the New York stock Exchange in August 2008.</div>
                          <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">As at August 3, 2022, Global Ship Lease&#160;owned 65 containerships, ranging from 1,118 to 11,040 TEU,
                            with an aggregate capacity of 342,348 TEU. 32 ships are wide-beam Post-Panamax.</div>
                          <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Adjusted to include all charters agreed, up to&#160;August 3, 2022, the average remaining term of the
                            Company&#8217;s charters as at&#160;June 30, 2022, to the mid-point of redelivery, including options under the Company&#8217;s control and other than if a redelivery notice has been received, was 2.6 years on a TEU-weighted basis. Contracted
                            revenue on the same basis was&#160;$1.91 billion. Contracted revenue was&#160;$2.14 billion, including options under charterers&#8217; control and with latest redelivery date, representing a weighted average remaining term of 3.1 years.</div>
                          <div><br>
                          </div>
                        </div>
                      </div>
                      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 11</font></div>
                        <div id="DSPFPageBreak" style="page-break-after:always;">
                          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                      </div>
                      <div style="margin-bottom: 10pt;">
                        <div style="font-weight: bold;">Reconciliation of Non-U.S. GAAP Financial Measures</div>
                        <div><br>
                        </div>
                        <table cellspacing="0" cellpadding="0" id="z74d58ba311994a8fafe6ed9c4c5bff7b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                            <tr>
                              <td style="width: 36pt; vertical-align: top; align: right;">A.</td>
                              <td style="width: auto; vertical-align: top; text-align: justify;">
                                <div>Adjusted EBITDA</div>
                              </td>
                            </tr>

                        </table>
                        <div><br>
                        </div>
                        <div style="text-align: justify;">Adjusted EBITDA represents net income available to common shareholders before interest income and expense, earnings allocated to preferred shares, income taxes, depreciation and amortization of
                          drydocking net costs, gains or losses on the sale of vessels, amortization of intangible liabilities, charges for share based compensation, fair value adjustment on derivatives and impairment losses.&#160; Adjusted EBITDA is a non-U.S.
                          GAAP quantitative measure used to assist in the assessment of our ability to generate cash from our operations. We believe that the presentation of Adjusted EBITDA is useful to investors because it is frequently used by securities
                          analysts, investors and other interested parties in the evaluation of companies in our industry. Adjusted EBITDA is not defined in U.S. GAAP and should not be considered to be an alternative to net income or any other financial
                          metric required by such accounting principles. Our use of Adjusted EBITDA may vary from the use of similarly titled measures by others in our industry.</div>
                        <div><br>
                        </div>
                        <div style="text-align: justify;">Adjusted EBITDA is presented herein both on a historic basis and on a forward-looking basis in certain instances. We do not provide a reconciliation of such forward looking non-U.S. GAAP financial
                          measure to the most directly comparable U.S. GAAP measure because such U.S. GAAP financial measure on a forward-looking basis is not available to us without unreasonable effort.</div>
                        <div><br>
                        </div>
                        <div style="text-align: justify;">ADJUSTED EBITDA - UNAUDITED</div>
                        <div style="text-align: justify; font-style: italic;">(thousands of U.S. dollars)</div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="margin-bottom: 10pt;">
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z4bb11ef0709f4c828220fd81075cc6b2" class="cfttable">

          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;">Three months ended<br>
                June 30,<br>
                2022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;">Three months ended<br>
              </div>
              <div style="text-align: right;"> June 30, </div>
              <div style="text-align: right;">2021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;">Six<br>
                months ended<br>
              </div>
              <div style="text-align: right;"> June 30, </div>
              <div style="text-align: right;">2022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;">Six<br>
                months ended<br>
              </div>
              <div style="text-align: right;"> June 30,</div>
              <div style="text-align: right;">2021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
              <div>Net income available to Common Shareholders</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>54,531</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>30,065</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>124,713</div>
            </td>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>34,224</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; background-color: rgb(204, 238, 255);" rowspan="1">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>13,136</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>40,125</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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          <tr>
            <td nowrap="nowrap" style="vertical-align: bottom; width: 8%;">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>(10,565</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>(1,959</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>(23,420</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>(2,461</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
              <div>)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; background-color: rgb(204, 238, 255);">
              <div><br>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Gain on sale of vessel</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>(7,770</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>-</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>(7,770</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
              <div>)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%;">
              <div><br>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">Fair value adjustment on derivative asset</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>(2,084</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
              <div>)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>(6,648</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div></div>
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; background-color: rgb(204, 238, 255);">
              <div><br>
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            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Interest income</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>(265</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
              <div>)</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>(121</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>(515</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>(364</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
              <div>)</div>
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          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%;">
              <div><br>
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            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">Interest expense</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>30,007</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>13,998</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>48,742</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
              <div>39,254</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Share based compensation</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>1,051</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>150</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>2,105</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
              <div>1,854</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; padding-bottom: 2px;">
              <div><br>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
              <div>2,384</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
              <div>2,011</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
              <div>4,768</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
              <div>3,495</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
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          <tr>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="2">
              <div>Adjusted EBITDA</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
              <div>95,332</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
              <div>49,510</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
              <div>189,870</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
              <div>93,751</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 10pt;">
      <div> <br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" id="zfd58ae9e23794a7a830313f3a5884ba1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">B.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Normalized net income</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify;">Normalized net income represents net income available to common shareholders after adjusting for certain non-recurring items. Normalized net income is a non-U.S. GAAP quantitative measure which we believe will assist
        investors and analysts who often adjust reported net income for items that do not affect operating performance or operating cash generated. Normalized net income is not defined in U.S. GAAP and should not be considered to be an alternate to net
        income or any other financial metric required by such accounting principles. Our use of Normalized net income may vary from the use of similarly titled measures by others in our industry.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 13</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 10pt;">
        <div>NORMALIZED NET INCOME</div>
        <div style="margin-left: 5.4pt; font-style: italic;">(thousands of U.S. dollars)</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zb51de4731bf246e982ee05041601fcd6" class="cfttable">

              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 8%;" colspan="1">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 44%;">&#160;&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">Three<br>
                    months<br>
                    ended<br>
                    June 30,<br>
                    2022</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">Three<br>
                    months<br>
                    ended<br>
                    June 30,<br>
                    2021</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">Six<br>
                    months<br>
                    ended<br>
                    June 30,<br>
                    2022</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">Six<br>
                    months<br>
                    ended<br>
                    June 30,<br>
                    2021</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%;" colspan="1">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
                  <div>Net income available to Common Shareholders</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>54,531</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>30,065</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>124,713</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>34,224</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; background-color: rgb(204, 238, 255);" rowspan="1">
                  <div>Adjust:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
                  </div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);" rowspan="1">Fair value adjustment on derivative assets</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>(2,084</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                  <div>)</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>(6,648</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                  <div>)</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%;">
                  <div><br>
                  </div>
                </td>
                <td nowrap="nowrap" style="vertical-align: bottom; width: 44%;">Gain on sale of vessel</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>(7,770</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                  <div>)</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>(7,770</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                  <div>)</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%; background-color: rgb(204, 238, 255);">
                  <div><br>
                  </div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Prepayment fee on repayment of Blue Ocean Credit Facility</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>-</div>
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                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">
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                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%; background-color: rgb(204, 238, 255);">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
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                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">Premium paid on redemption of 2022 Notes</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%; background-color: rgb(204, 238, 255);">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Accelerated write off of deferred financing charges related to redemption of 2022 Notes</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                  <div>3,745</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%;">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">Accelerated write off of original issue discount related to redemption of 2022 Notes</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                  <div></div>
                  <div>-</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                  <div></div>
                  <div>1,133</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%; background-color: rgb(204, 238, 255);">
                  <div><br>
                  </div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Premium paid on redemption of 2024 Notes</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>570</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                  <div>-</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%;"><br>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>-</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div></div>
                  <div></div>
                  <div>-</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div></div>
                  <div></div>
                  <div>1,346</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">
                  <div>Accelerated write off of deferred financing charges related to full repayment of </div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>298</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>-</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div></div>
                  <div></div>
                  <div>298</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div></div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%;"><br>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%;">
                  <div>Accelerated write off of deferred financing charges related to full repayment of </div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>-</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                  <div></div>
                  <div>2,822</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div></div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-left: 7%; width: 8%; background-color: rgb(204, 238, 255);">
                  <div><br>
                  </div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; background-color: rgb(204, 238, 255);">Prepayment fee on repayment of Hayfin Credit Facility</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>11,229</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div></div>
                  <div>11,229</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div></div>
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 8%; padding-bottom: 2px;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 44%; padding-bottom: 2px;" colspan="1">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="2">
                  <div>Normalized net income</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                  <div>67,366</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                  <div>23,733</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                  <div>137,035</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                  <div>41,498</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              </tr>

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        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 14</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" id="z6f2b9fc947fe4fc08d34366fc9f59f98" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 36pt; vertical-align: top; align: right;">C.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Normalized Earnings per Share</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div style="text-align: justify;">Normalized Earnings per Share represents Earnings per Share after adjusting for certain non-recurring items. Normalized Earnings per Share is a non-U.S. GAAP quantitative measure which we believe will assist
            investors and analysts who often adjust reported Earnings per Share for items that do not affect operating performance or operating cash generated. Normalized Earnings per Share is not defined in U.S. GAAP and should not be considered to be an
            alternate to Earnings per Share as reported or any other financial metric required by such accounting principles. Our use of Normalized Earnings per Share may vary from the use of similarly titled measures by others in our industry.</div>
          <div><br>
          </div>
          <div style="text-align: justify;">NORMALIZED EARNINGS PER SHARE</div>
          <div><br>
          </div>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Three</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
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                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Six</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">Six</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">months</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">ended</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
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                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">June 30,</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">June 30,</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">
                  <div style="text-align: right;">June 30,</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
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                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">2021</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">2022</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                  <div style="text-align: right;">2021</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <div>1.00</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;" colspan="1">
                  <div>Normalized net income adjustments-Class A common shares (in thousands USD)</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>(6,332</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                  <div>)</div>
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                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" colspan="1">
                  <div>Weighted average number of Class A Common shares</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>36,347,270</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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              <tr>
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                  <div>Adjustment on EPS (USD)</div>
                </td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>0.35</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>(0.18</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
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                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                  <div>0.34</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <div>0.22</div>
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              <tr>
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                  <div>Normalized EPS (USD)</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <div>1.85</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
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                  <div>0.65</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                  <div>1.22</div>
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                <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
              </tr>

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          <div><br>
          </div>
          <div><br>
          </div>
          <div><font style="font-weight: bold;">Safe Harbor Statement<br>
            </font><br>
          </div>
          <div style="text-align: justify;">This communication contains forward-looking statements. Forward-looking statements provide Global Ship Lease's current expectations or forecasts of future events. Forward-looking statements include statements
            about Global Ship Lease's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may,"
            "ongoing," "plan," "potential," "predict," &#8220;should,&#8221; "project," "will" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean
            that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and Global Ship Lease cannot assure you that these projections included in these forward-looking statements will come to
            pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors.</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 15</font></div>
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            <div style="text-align: justify;">The risks and uncertainties include, but are not limited to:</div>
            <div><br>
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                    <div>future operating or financial results;</div>
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            <table cellspacing="0" cellpadding="0" id="z845e9e2d94144a46b975bf6cc4697019" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-top: 4.5pt;">

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                    <div>expectations regarding the future growth of the container shipping industry, including the rates of annual demand and supply growth;</div>
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                  </td>
                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>geo-political events such as the conflict in Ukraine;</div>
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                <tr>
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                  </td>
                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>the length and severity of the ongoing outbreak of the novel coronavirus (COVID-19) around the world and governmental responses thereto;</div>
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                </tr>

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                <tr>
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                  </td>
                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>the financial condition of our charterers, particularly our major charterers, and their ability to pay charterhire in accordance with the charters;</div>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>Global Ship Lease&#8217;s financial condition and liquidity, including its level of indebtedness or ability to obtain additional financing to fund capital expenditures, ship acquisitions and other general corporate purposes;</div>
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                    <div>Global Ship Lease&#8217;s ability to meet its financial covenants and repay its credit facilities;</div>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>Global Ship Lease&#8217;s expectations relating to dividend payments and forecasts of its ability to make such payments including the availability of cash and the impact of constraints under its credit facilities;</div>
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                <tr>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>risks relating to the acquisition of Poseidon Containers and Global Ship Lease&#8217;s ability to realize the anticipated benefits of the acquisition;</div>
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                </tr>

            </table>
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                <tr>
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                  </td>
                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>future acquisitions, business strategy and expected capital spending;</div>
                  </td>
                </tr>

            </table>
            <table cellspacing="0" cellpadding="0" id="zbea9c43bc4374638bcb5219339214027" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-top: 4.5pt;">

                <tr>
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                  </td>
                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>operating expenses, availability of crew, number of off-hire days, drydocking and survey requirements and insurance costs;</div>
                  </td>
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                <tr>
                  <td style="width: 30.6pt;"><br>
                  </td>
                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>general market conditions and shipping industry trends, including charter rates and factors affecting supply and demand;</div>
                  </td>
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                    <div>assumptions regarding interest rates and inflation;</div>
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                    <div>changes in the rate of growth of global and various regional economies;</div>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>risks incidental to ship operation, including piracy, discharge of pollutants and ship accidents and damage including total or constructive total loss;</div>
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                    <div>estimated future capital expenditures needed to preserve its capital base;</div>
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            <table cellspacing="0" cellpadding="0" id="z7de8f75618e042fe821a3150bc9e7365" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-top: 4.5pt;">

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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>Global Ship Lease&#8217;s expectations about the availability of ships to purchase, the time that it may take to construct new ships, or the useful lives of its ships;</div>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>Global Ship Lease&#8217;s continued ability to enter into or renew long-term, fixed-rate charters or other ship employment arrangements;</div>
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            <table cellspacing="0" cellpadding="0" id="z65d9e86016d04e059b94b5bc8128fd7d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-top: 4.5pt;">

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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>Global Ship Lease&#8217;s ability to realize expected benefits from its acquisition of secondhand vessels;</div>
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                    <div>the continued performance of existing long-term, fixed-rate time charters;</div>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>Global Ship Lease&#8217;s ability to capitalize on its management&#8217;s and board of directors&#8217; relationships and reputations in the containership industry to its advantage;</div>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>changes in governmental and classification societies&#8217; rules and regulations or actions taken by regulatory authorities;</div>
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                <tr>
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                  <td style="width: 18.35pt; vertical-align: top; align: right;">&#8226;</td>
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                    <div>expectations about the availability of insurance on commercially reasonable terms;</div>
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                    <div>unanticipated changes in laws and regulations including taxation;</div>
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                <tr>
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                    <div>potential liability from future litigation.</div>
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            <div style="margin-top: 4.5pt;"><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 16</font></div>
              <div id="DSPFPageBreak" style="page-break-after: always;">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <div style="text-align: justify;">Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected
              or implied by the forward-looking statements. Global Ship Lease's actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in Global Ship Lease's filings with the
              U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication.</div>
            <div><br>
            </div>
            <div style="text-align: justify;">Global Ship Lease undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated
              events. You should, however, review the factors and risks Global Ship Lease describes in the reports it will file from time to time with the SEC after the date of this communication.</div>
            <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 17</font></div>
              <div id="DSPFPageBreak" style="page-break-after:always;">
                <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
            </div>
            <div style="margin-bottom: 10pt;">
              <div style="text-align: center; font-weight: bold;">Global Ship Lease, Inc.</div>
              <div><br>
              </div>
              <div style="text-align: center;"><font style="font-weight: bold;">Interim Unaudited Condensed Consolidated</font>&#160;<font style="font-weight: bold;">Balance Sheets</font></div>
              <div><br>
              </div>
              <div style="text-align: center;">(Expressed in thousands of U.S. dollars except share data)</div>
              <div><br>
              </div>
              <div><br>
              </div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zfb9aa0cd98c44787b70ad3cfc091fc4b" class="cfttable">

                  <tr>
                    <td valign="bottom" style="vertical-align: middle; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                      <div style="text-align: right; font-weight: bold;"> June 30, 2022</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                      <div style="text-align: right; font-weight: bold;">December 31, 2021</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
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                      <div style="font-weight: bold;">ASSETS</div>
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                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
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                    </td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Cash and cash equivalents</div>
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                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                      <div>181,202</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>67,280</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Time deposits</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>7,800</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>7,900</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Restricted cash</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>14,630</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>24,894</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Accounts receivable, net</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>3,472</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>3,220</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Inventories</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>11,953</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>11,410</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Prepaid expenses and other current assets</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>22,425</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>25,224</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Derivative assets</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>18,937</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>533</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
                      <div>Due from related parties</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>773</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>2,897</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
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                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
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                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">261,192</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
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                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">143,358</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div style="font-weight: bold;">NON-CURRENT ASSETS</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Vessels in operation</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>1,655,199</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>1,682,816</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Advances for vessels acquisitions and other additions</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>5,642</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>6,139</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Deferred charges, net</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>48,383</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>37,629</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Other non-current assets</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>22,741</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>14,010</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Derivative assets, net of current portion</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>33,222</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>6,694</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
                      <div>Restricted cash, net of current portion</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>104,469</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>103,468</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Total non-current assets</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,869,656</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,850,756</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 4px;">
                      <div style="font-weight: bold;">TOTAL ASSETS</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">2,130,848</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,994,114</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 76%; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">LIABILITIES AND SHAREHOLDERS' EQUITY</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div style="font-weight: bold;">CURRENT LIABILITIES</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Accounts payable</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>18,509</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>13,159</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Accrued liabilities</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>28,191</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>32,249</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Current portion of long-term debt</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>273,614</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>190,316</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Current portion of deferred revenue</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>7,313</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>8,496</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
                      <div>Due to related parties</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>602</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>543</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
                      <div style="font-weight: bold;">Total current liabilities</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">328,229</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">244,763</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">LONG-TERM LIABILITIES</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Long-term debt, net of current portion and deferred financing costs</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>833,189</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>880,134</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Intangible liabilities-charter agreements</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>31,956</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>55,376</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
                      <div>Deferred revenue, net of current portion</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>103,078</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>101,288</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Total non-current liabilities</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">968,223</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,036,798</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
                      <div style="font-weight: bold;">Total liabilities</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,296,452</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,281,561</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Commitments and Contingencies</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 76%;">
                      <div style="font-weight: bold;">SHAREHOLDERS' EQUITY</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Class A common shares - authorized<br>
                        214,000,000 shares with a $0.01 par value<br>
                        36,726,708 shares issued and outstanding (2021 &#8211; 36,464,109 shares)</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>367</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>365</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 76%;">
                      <div>Series B Preferred Shares - authorized<br>
                        44,000 shares with a $0.01 par value<br>
                        43,592 shares issued and outstanding (2021 &#8211; 43,592 shares)</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div></div>
                      <div></div>
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div></div>
                      <div></div>
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
                      <div>Additional paid in capital</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>695,641</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>698,463</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%;">
                      <div>Retained earnings</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>115,118</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>13,498</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
                      <div>Accumulated other comprehensive income</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>23,270</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>227</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 2px;">
                      <div style="font-weight: bold;">Total shareholders' equity</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">834,396</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">712,553</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 76%; padding-bottom: 4px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">2,130,848</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">1,994,114</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>

              </table>
              <div><br>
              </div>
              <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 18</font></div>
                <div id="DSPFPageBreak" style="page-break-after:always;">
                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
              </div>
              <div style="text-align: center; font-weight: bold;">Global Ship Lease, Inc.</div>
              <div><br>
              </div>
              <div style="text-align: center;"><font style="font-weight: bold;">Interim Unaudited Condensed Consolidated</font>&#160;<font style="font-weight: bold;">Statements of Income</font></div>
              <div><br>
              </div>
              <div style="text-align: center;">(Expressed in thousands of U.S. dollars)</div>
              <div><br>
              </div>
              <div><br>
              </div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z3895e3fa336b419494d4d953fbdf6c2d" class="cfttable">

                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="6">
                      <div style="text-align: center; font-weight: bold;">Three months ended June 30,</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="6">
                      <div style="text-align: center; font-weight: bold;">Six months ended June 30,</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
                      <div style="text-align: right; font-weight: bold;"> 2022</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
                      <div style="text-align: right; font-weight: bold;">2021</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
                      <div style="text-align: right; font-weight: bold;">2022</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
                      <div style="text-align: right; font-weight: bold;">2021</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;">
                      <div style="font-weight: bold;">OPERATING REVENUES</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: top; width: 52%; background-color: #CCEEFF;">
                      <div>Time charter revenue (includes related party revenues of $27,266 and $33,308 for each of the three month periods ended June 30, 2022 and 2021, respectively, and $66,929 and $65,001 for each of the six month periods ended June 30,
                        2022 and 2021, respectively)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>143,891</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>80,912</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>284,667</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>153,390</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: top; width: 52%; padding-bottom: 2px;">
                      <div>Amortization of intangible liabilities-charter agreements (includes related party amortization of intangible liabilities-charter agreements of $2,094 and $502 for the three month periods ended June 30, 2022 and 2021,
                        respectively, and $5,385 and $1,004 for each of the six month periods ended June 30, 2022 and 2021, respectively)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>10,565</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>1,959</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>23,420</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>2,461</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Total Operating Revenues</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">154,456</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">82,871</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">308,087</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">155,851</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%;">
                      <div style="font-weight: bold;">&#160;</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">OPERATING EXPENSES:</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: top; width: 52%;">
                      <div>Vessel operating expenses (includes related party vessel operating expenses of $4,230 and $3,578 for each of the three month periods ended June 30, 2022 and 2021, respectively, and $8,609 and $6,868 for each of the six month
                        periods ended June 30, 2022 and 2021, respectively)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>28,120</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>80,886</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>52,406</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                    <td valign="bottom" style="vertical-align: top; width: 52%; background-color: #CCEEFF;">
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                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>5,101</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>2,124</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>9,458</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>3,889</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
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                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>20,273</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>13,136</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>40,125</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>25,519</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
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                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>2,874</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>1,857</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>6,736</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>6,131</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px;">
                      <div>Gain on sale of vessel</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>(7,770</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>(7,770</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div>)</div>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Operating Income</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">84,766</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">45,404</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">170,882</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">75,676</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%;">
                      <div style="font-weight: bold;">&#160;</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">NON-OPERATING INCOME/(EXPENSES)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
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                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>265</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>121</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>515</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>364</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
                      <div>Interest and other finance expenses</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>(30,007</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>(13,998</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>(48,742</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>(39,254</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Other (expenses)/income, net</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(193</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>549</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>178</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>933</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div>Fair value adjustment on derivative asset</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>2,084</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>6,648</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; padding-bottom: 2px;">
                      <div style="font-weight: bold;">Total non-operating expenses</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(27,851</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(13,328</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(41,401</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(37,957</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Income before income taxes</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">56,915</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">32,076</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">129,481</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">37,719</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Income taxes</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; width: 52%; padding-bottom: 2px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Net Income</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">56,915</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">32,076</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">129,481</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">37,719</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px;">
                      <div>Earnings allocated to Series B Preferred Shares</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>(2,384</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>(2,011</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>(4,768</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1" class="cftnumcell">
                      <div>(3,495</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
                      <div style="font-weight: bold;">Net Income available to Common Shareholders</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">54,531</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">30,065</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">124,713</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">34,224</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>

              </table>
              <div><br>
              </div>
              <div><br>
              </div>
              <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">Page 19</font></div>
                <div id="DSPFPageBreak" style="page-break-after:always;">
                  <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
              </div>
              <div><br>
              </div>
              <div style="text-align: center; font-weight: bold;">Global Ship Lease, Inc.</div>

              <div><br>
                 </div>

              <div style="text-align: center; font-weight: bold;">Interim Unaudited Condensed Consolidated Statements of Cash Flows</div>

              <div><br>
                 </div>

              <div style="text-align: center;">(Expressed in thousands of U.S. dollars)</div>

              <div style="text-align: center;"> <br>
                 </div>

              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zffb33a4970264e0bb2469eed168f10cb" class="cfttable">

                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="6">
                      <div style="text-align: center; font-weight: bold;">Three months ended June 30,</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="6">
                      <div style="text-align: center; font-weight: bold;">Six months ended June 30,</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                      <div style="text-align: right; font-weight: bold;"> 2022</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                      <div style="font-weight: bold;">2021</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                      <div style="text-align: right; font-weight: bold;"> 2022</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                      <div style="font-weight: bold;">2021</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;">
                      <div style="font-weight: bold;">Cash flows from operating activities:</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Net income</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>56,915</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>32,076</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>129,481</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>37,719</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%;">
                      <div style="font-weight: bold;">Adjustments to reconcile net income to net cash provided by operating activities:</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Depreciation and amortization</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>20,273</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>13,136</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>40,125</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>25,519</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Gain on sale of vessel</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(7,770</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(7,770</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Amortization of derivative assets' premium</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>128</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>129</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Amortization of deferred financing costs</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>4,514</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>957</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>6,093</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>5,363</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Amortization of original issue discount on repurchase of notes</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>446</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>92</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>326</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>7,136</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Amortization of intangible liabilities-charter agreements</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(10,565</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(1,959</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(23,420</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(2,461</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Fair value adjustment on derivative asset</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(2,084</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(6,648</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">-<br>
                      </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Prepayment fees on debt repayment</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>11,229</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>1,438</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>15,197</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>3,056</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Share based compensation</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>1,051</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>150</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>2,105</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>1,854</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%;">
                      <div style="font-weight: bold;">Changes in operating assets and liabilities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Increase in accounts receivable and other assets</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(4,350</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(1,768</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(6,184</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(5,633</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
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                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Increase in inventories</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(968</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(476</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(543</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(139</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Increase in derivative asset</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(15,370</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Increase/(decrease) in accounts payable and other liabilities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>4,839</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>2,918</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(1,015</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(3,148</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Decrease/(increase) in related parties' balances, net</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>3,311</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>788</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>2,183</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(447</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Increase in deferred revenue</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>2,109</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>572</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>607</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>620</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                      <div>Unrealized foreign exchange loss</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>2</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>4</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; padding-bottom: 2px;">
                      <div style="font-weight: bold;">Net cash provided by operating activities</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">86,850</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">40,154</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">143,070</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">61,669</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; background-color: rgb(204, 238, 255);">
                      <div style="font-weight: bold;">Cash flows from investing activities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Acquisition of vessels and intangibles</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(98,400</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(98,400</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Cash paid for vessel expenditures</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(1,238</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(328</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(3,225</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(2,233</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Advances for vessel acquisitions and other additions</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(1,202</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(25,709</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(2,324</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(25,957</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Cash paid for drydockings</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(5,938</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(2,594</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(15,253</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(4,181</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Net proceeds from sale of vessels</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>16,514</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>16,514</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                      <div>Time deposits withdrawal</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>100</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>100</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; padding-bottom: 2px;">
                      <div style="font-weight: bold;">Net cash used in investing activities</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(8,278</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(110,517</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(20,702</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(114,257</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; background-color: rgb(204, 238, 255);">
                      <div style="font-weight: bold;">Cash flows from financing activities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Proceeds from issuance of 2024 Notes</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>7,606</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                      <div>$</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Repurchase of 2022 Notes, including premium</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(239,183</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Repurchase of 2024 Notes, including premium</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(29,070</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(29,070</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Proceeds from drawdown of credit facilities and sale and leaseback</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>225,605</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>60,000</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>461,805</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Proceeds from 2027 USPP Notes</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>350,000</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>350,000</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Repayment of credit facilities and sale and leaseback</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(39,007</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(23,021</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(79,918</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(53,838</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Repayment of refinanced debt, including prepayment fees</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(246,498</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(145,237</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(276,671</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(146,855</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Deferred financing costs paid</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(7,018</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(3,680</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(9,264</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(7,916</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 52%;">
                      <div>Net proceeds from offering of Class A common shares, net off offering costs</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>(372</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                      <div>)</div>
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>67,612</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Cancellation of Class A common shares</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(4,925</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(4,925</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Proceeds from offering of Series B preferred shares, net of offering costs</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>23,649</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>34,345</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Class A common shares-dividend paid</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(13,836</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(9,347</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(23,093</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>(9,347</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; padding-bottom: 2px;">
                      <div>Series B preferred shares-dividends paid</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>(2,384</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>(2,011</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>(4,768</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div>(3,495</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1" class="cftfncell">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                      <div style="font-weight: bold;">Net cash provided by/(used in) financing activities</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">7,262</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">73,192</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">(17,709</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                      <div style="font-weight: bold;">)</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">125,830</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%;">
                      <div style="font-weight: bold;">Net increase in cash and cash equivalents and restricted cash</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">85,834</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">2,829</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">104,659</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">73,242</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                      <div>Cash and cash equivalents and restricted cash at beginning of the period</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>214,467</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>162,675</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>195,642</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>92,262</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; padding-bottom: 4px;">
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                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">300,301</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">165,504</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">300,301</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                      <div style="font-weight: bold;">$</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                      <div style="font-weight: bold;">165,504</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" style="vertical-align: middle; width: 52%; background-color: rgb(204, 238, 255);">
                      <div style="font-weight: bold;">Supplementary Cash Flow Information:</div>
                    </td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Cash paid for interest</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>12,708</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>10,078</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>25,297</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>24,547</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div style="font-weight: bold;">Non-cash investing activities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Unpaid capitalized expenses</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>8,101</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>8,101</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div>Unpaid drydocking expenses</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>7,417</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>1,890</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>7,417</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                      <div>1,890</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%;">
                      <div>Unpaid vessel expenditures</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>3,474</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>3,474</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
                      <div style="font-weight: bold;">Non-cash financing activities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
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                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>5,632</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>22,914</div>
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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="text-align: right; vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
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              </table>

              <div><br>
              </div>
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