Latest news with #GSL
Yahoo
29-05-2025
- Business
- Yahoo
Roshni Announces Proposed Qualifying Transaction with Glorious Success Limited
Toronto, Ontario--(Newsfile Corp. - May 28, 2025) - Roshni Capital Inc. (TSXV: ROSH.P) ("Roshni"), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSX-V"), is pleased to announce that it has entered into a binding letter of intent dated May 27, 2025 with Glorious Success Limited ("GSL"), in respect of an arm's length reverse take-over transaction which is expected to result in securityholders of GSL acquiring a majority of the voting securities of the entity resulting from such transaction (the "Resulting Issuer") and constitute the "Qualifying Transaction" (as such term is defined in policies of the TSX-V) of Roshni (the "Proposed Transaction"). The completion of the Proposed Transaction is subject to the satisfaction of certain conditions, including but not limited to: (i) the parties entering into a definitive agreement with respect to the Proposed Transaction (such agreement to include representations, warranties, conditions and covenants typical for a transaction of this nature), (ii) the completion of satisfactory due diligence investigations, (iii) the proposed board of directors and management of the Resulting Issuer being acceptable to the TSX-V; (iv) the receipt of all requisite regulatory, stock exchange, or governmental authorizations and consents, including the TSX-V; (v) completion of the Concurrent Financing (as defined below); and (vi) certain other conditions as may be agreed between the parties. Subject to satisfaction or waiver of all conditions precedents to the Proposed Transaction, Roshni and GSL anticipate that the Proposed Transaction will be completed no later than December 31, 2025. There can be no assurance that the Proposed Transaction will be completed on the terms proposed above or at all. Trading in the common shares of Roshni (the "Roshni Shares") is currently halted in accordance with the policies of the TSX-V and will remain halted until such time as all required documentation in connection with the Proposed Transaction has been filed with and accepted by the TSX-V and permission to resume trading has been obtained from the Exchange. GSL and Roshni expect to enter into definitive agreements with respect to the Proposed Transaction as soon as practicable subject to the receipt of tax, corporate and securities law advice. Transaction Summary Pursuant to the Proposed Transaction, Roshni will issue an aggregate of 12.941 common shares in the capital of Roshni ("Roshni Shares") for each common share in the capital of GSL ("GSL Shares"), each at a deemed value of $0.17 per Roshni Share (the "Exchange Ratio"), including any GSL Shares issued pursuant to the Concurrent Financing, based on an aggregate valuation of $22 million, subject to adjustment for proceeds raised under the Concurrent Financing. Upon completion of the Proposed Transaction, it is presently anticipated that an aggregate of approximately 171,664,706 Resulting Issuer common shares ("Resulting Issuer Shares") will be issued and outstanding (including any Resulting Issuer Shares to be issued pursuant to the Concurrent Financing), and: former holders of GSL will hold 129,411,765 Resulting Issuer Shares, representing approximately 75.4% of the outstanding Resulting Issuer Shares; investors in the Concurrent Financing will hold an aggregate of 32,352,941 Resulting Issuer Shares, representing approximately 18.8% of the outstanding Resulting Issuer Shares; and former holders of Roshni Shares will hold an aggregate of 9,900,000 Resulting Issuer Shares, representing approximately 5.8% of the outstanding Resulting Issuer Shares. All dollar figures referenced herein, unless otherwise specified, refer to Canadian dollars. The existing shareholders of GSL are expected to own a majority of the outstanding Roshni Shares after completion of the Proposed Transaction and Roshni will be renamed to such name as mutually agreed to by Roshni and GSL. The final structure of the Proposed Transaction is subject to the receipt of tax, corporate and securities law advice by both Roshni and GSL. The Proposed Transaction is not a Non-Arm's Length Qualifying Transaction (as such term is defined in TSX-V Policy 2.4) and it is not currently contemplated that approval by Roshni's shareholders will be required or sought for the Proposed Transaction or that a shareholders' meeting will be required for the Proposed Transaction. No advances to be made by Roshni are contemplated and no finder's fees are payable in connection with the Proposed Transaction. Upon the completion of the Proposed Transaction, it is expected that GSL will become a wholly-owned subsidiary of the Resulting Issuer and the Resulting Issuer will qualify as a Tier 2 Industrial Issuer under the policies of the TSX-V. Roshni currently has 9,900,000 Roshni Shares issued and outstanding, as well as 800,000 stock options to acquire Roshni Shares, of which 300,000 are exercisable at $0.05 per share and 500,000 at $0.10 per share. Further details concerning the Proposed Transaction (including additional financial information) and other matters will be announced if and when a definitive agreement is reached and will be contained in the disclosure document to be prepared and filed with the TSX-V and on SEDAR+ in connection with the Proposed Transaction. Investors are cautioned that, except as disclosed in such disclosure document, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Private Placement In connection with the Proposed Transaction, a concurrent commercially reasonable best efforts brokered private placement to raise a minimum of $5,500,000 in aggregate gross proceeds (the "Concurrent Financing") will be completed. The Concurrent Financing will be led by a broker, yet to be announced, with the full details of the financing to be provided in a subsequent press release. Any GSL Shares issuable in the Concurrent Financing will be acquired by Roshni pursuant to the Proposed Transaction on the same terms as the other outstanding securities of GSL. This news release does not constitute an offer to sell and is not a solicitation of an offer to buy any securities in the United States. The securities of Roshni and GSL have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws unless pursuant to an exemption from such registration. Transaction Expenses GSL has agreed to be responsible for the payment or reimbursement of all Roshni's expenses relating to the Proposed Transaction, including legal fees, auditor fees, financial advisory fees, fees payable to TSX-V and reasonable disbursements of Roshni and its advisors. Information Concerning GSL Glorious Success Limited ("GSL"), a holding company incorporated in Hong Kong, is the sole shareholder of Idea Paragon Inc., a South Korea-based mixed martial arts ("MMA") promotion and sports media company operating under the brand name Black Combat. Positioned at the convergence of combat sports and entertainment, Black Combat is building a next-generation sports media platform that leverages the global rise of MMA and Korea's growing cultural influence. Since its incorporation on June 29, 2022, Idea Paragon Inc. has established a strong market presence within South Korea's combat sports industry. The company has been recognized for its rapid expansion and is currently ranked among the top 35 MMA promotions globally. Domestically, Black Combat has become a leading operator, having organized over 30 events within its first two years of operation. Black Combat's programming spans a variety of formats, including amateur tournaments, Champions League competitions, and numbered professional events. This level of frequency and format diversity positions the company as a key player in the Korean MMA market. The company's mission is to redefine the combat sports experience in Asia through event production that emphasizes narrative storytelling, athlete development, and audience engagement. Its long-term strategic objective is to become one of Asia's premier MMA organizations, known for operational discipline, content innovation, and event quality. As of December 31, 2024, GSL had approximately Korean won 1,203 million in assets (CAD $1,209,979), and liabilities of approximately Korean won 122 million (CAD$122,577) and Korean won 2,935 million (CAD$2,952,966) in revenues (unaudited pro forma combined financial statements).2 Management and Board of Directors of Resulting Issuer All of the current members of the Roshni board of directors and management will resign in favor of nominees of GSL who will be determined and outlined in a further press release. Sponsorship The Proposed Transaction is subject to the sponsorship requirements of the TSX-V unless an exemption from those requirements is granted. Roshni intends to apply for an exemption from the sponsorship requirements; however, there can be no assurance that an exemption will be obtained. Forward-Looking Statements This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Roshni with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: expectations regarding whether the Proposed Transaction will be consummated, whether definitive agreements will be executed in respect of the Proposed Transaction, whether the Concurrent Financing will be completed on the terms contemplated or at all, whether the Proposed Transaction and the insiders of the Resulting Issuer will be acceptable to the Exchange, whether the conditions precedent to the Proposed Transaction will be completed, including whether conditions to the consummation of the conditions precedent to the Proposed Transaction will be satisfied, or the timing for completing the Proposed Transaction and the conditions precedent to the Proposed Transaction. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Roshni's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Roshni believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Proposed Transaction and/or the conditions precedent to the Proposed Transaction; the ability to obtain requisite regulatory and other approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction and/or the conditions precedent to the Proposed Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Proposed Transaction and/or the conditions precedent to the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; the ability of the parties to raise sufficient capital to complete the Concurrent Financing; and the diversion of management time on the Proposed Transaction and/or the conditions precedent to the Proposed Transaction. This forward-looking information may be affected by risks and uncertainties in the business of Roshni and GSL and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Roshni has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Roshni does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. For further information, please contact: Roshni Capital Singh, Chief Executive Officer and DirectorTelephone: 905.510.7636 All information contained in this news release relating to GSL was provided by GSL to Roshni for inclusion herein. Roshni has not independently verified such information and shall bear no liability for any misrepresentation contained therein. Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance and if applicable pursuant to TSX-V requirements, majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSX-V has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. 1Source: into CAD using the Bank of Canada Exchange rate on May 23, 2025 of 1 Korean won = CAD$0.001006. Not for distribution to United States newswire services or for dissemination in the United States To view the source version of this press release, please visit Sign in to access your portfolio
News18
28-05-2025
- Business
- News18
INS Tamal: A Symbol Of Enduring India-Russia Partnership
Last Updated: INS Tamal, the second of four Talwar-class stealth frigates acquired under a 2016 Indo-Russian agreement, is poised to bolster India's maritime posture The impending arrival of INS Tamal, India's newest BrahMos-armed stealth frigate, from Russia serves as a potent symbol of the enduring strategic partnership between New Delhi and Moscow. The frigate is armed with BrahMos and fitted with onboard systems built in India. Constructed at Russia's Yantar Shipyard in Kaliningrad, Tamal, alongside its sister ship INS Tushil, commissioned in December 2024, represents a significant enhancement to India's naval capabilities and also underlines the deep-rooted defence cooperation that has long defined the relationship between India and Russia. Modernising naval capabilities and self-reliance INS Tamal, the second of four Talwar-class stealth frigates acquired under a 2016 Indo-Russian agreement, is poised to bolster India's maritime posture. These frigates, classified as improved Krivak-III class vessels, also known as Project 11356, are designed for long-range, blue-water operations and are equipped with advanced features such as stealth design, anti-submarine weapons, Shtil surface-to-air missile systems, and the formidable BrahMos cruise missile. INS Tamal itself incorporates approximately 26% Indian-made components. The first ship of this batch, INS Tushil, was commissioned in December 2024 by defence minister Rajnath Singh, undertaking an extensive transcontinental journey to India. Crucially, the broader Krivak-III programme encompasses a dual-track strategy: two frigates built in Russia (INS Tushil and INS Tamal) and two, Tavasya and Triput, are to be constructed at India's Goa Shipyard Limited (GSL) through technology transfer. This approach aligns with India's 'Make in India" and 'Self-Reliant India" initiatives, signifying a strategic pivot towards indigenous defence production. Looking ahead, a military-technical cooperation programme extending to 2031 has been agreed upon, suggesting a roadmap for continued collaboration, potentially including joint production of spare parts within India. The launch of the frigate Tavasya at GSL in March 2025, the second of its class manufactured entirely in India, further underscores this commitment to technological self-sufficiency. This long history of naval cooperation also extends to conventional and nuclear submarines, with India having previously leased nuclear-powered submarines, such as the Chakra, from Russia, and the transfer of the aircraft carrier INS Vikramaditya to the Indian Navy in 2014. BrahMos: A cornerstone of joint prowess The BrahMos missile system stands as a testament to the successful joint development between India's Defence Research and Development Organisation (DRDO) and Russia's NPO Mashinostroyeniya, forming BrahMos Aerospace Private Limited. This supersonic cruise missile, which can be launched from land, sea, air, and submarines, is a key armament of INS Tamal and other Indian Navy platforms. Initially, the missile's range was capped at 290 km due to Missile Technology Control Regime (MTCR) restrictions, which limit technology transfers for missiles exceeding 300 km to non-member states. However, India's entry into the MTCR in June 2016 removed these barriers, allowing for the enhancement of BrahMos's capabilities. The missile's range has since been extended to over 450 km and, in some cases, up to 800 km, significantly enhancing India's offensive capabilities and strategic deterrence against both land and naval targets. Beyond domestic deployment, the BrahMos has also found international markets, with the Philippines securing the first export order for shore-based anti-ship batteries, demonstrating the success of this Indo-Russian joint venture on a global scale. Enduring defence ties amid shifting geopolitics India's defence relations with Russia trace back almost half a century, with the Indian armed forces historically relying on Soviet-origin weapon systems. India continues to rely on a wide array of Russian-origin platforms, including T-72 and T-90 tanks, Su-30 MKI, MiG-29, and MiG-29K fighter jets, KA-31 helicopters, and Akula- and Kilo-class submarines. This longstanding bond has been formalised through mechanisms such as the India-Russia Inter-Governmental Commission on Military Technical Cooperation (IRIGC-MTC), established in 2000, and a Programme for Military-Technical Cooperation, which was valid until 2020. Over the years, this cooperation has evolved from a mere buyer-seller dynamic into joint research, development, and production of military platforms, with the BrahMos missile serving as a prime example of this changed approach. While the share of India's defence imports from Russia has notably decreased from 76% in 2009 to 36% in 2023, reflecting India's strategy to diversify its procurement towards Western countries, Russia remains a crucial partner for India's existing military arsenal. Despite global geopolitical shifts, including the Ukraine conflict, which has reportedly led to delays in the delivery of some systems like the S-400 missile defence system and spare parts, India continues to rely on a wide array of Russian-origin platforms, including tanks, fighter jets, helicopters, and submarines. Economic ties have surged, with bilateral trade reaching a record high of USD 65.7 billion in fiscal year 2023-24, up 33% year-on-year, and nearly 5.5 times higher than the pre-Covid pandemic trade of USD 10.1 billion. A pragmatic partnership for India's strategic autonomy top videos View all The induction of INS Tamal into the Indian Navy, alongside ongoing broader defence collaborations, underscores India's pragmatic foreign policy and commitment to strategic autonomy. While navigating complex global dynamics and calls from the West to reduce ties with Moscow, New Delhi has maintained its crucial relationship with Russia, acknowledging its enduring role as a key security and economic partner. This partnership is an active, evolving engagement that continues to serve India's strategic interests in maintaining a robust defence posture and asserting its position as a decisive maritime force in the 21st century. The arrival of INS Tamal symbolises a continuing and essential aspect of India's defence strategy, reinforcing its capabilities while demonstrating a balanced approach to its foreign policy. First Published: May 28, 2025, 07:30 IST
Medscape
23-05-2025
- Health
- Medscape
Lactation Can Trigger Menopause-Like Symptoms
Many breastfeeding mothers experience menopause-like symptoms of the postpartum condition recently designated genitourinary syndrome of lactation (GSL) in a systematic review reported in Obstetrics & Gynecology . The term was proposed in 2024 after interdisciplinary discussions among obstetricians, gynecologists, and urologists and following recognition of the genitourinary syndrome of menopause (GSM). Though common, this lactation-associated syndrome is a blind spot in postpartum care — underrecognized and undertreated, according to the review's lead author, Sara Perelmuter, MPhil, an MD candidate at Weill Cornell Medical College in New York City, and colleagues. They found a strong association between lactation and a spectrum of symptoms encompassing vaginal atrophy and dryness, urinary issues, dyspareunia, and sexual dysfunction. Sara Perelmuter, MPhil Pooled analysis revealed that vaginal atrophy was prevalent in almost two thirds of postpartum lactating individuals, with breastfeeding women being 2.34 times more likely to experience atrophy than their non-breastfeeding counterparts. The impetus for this review came from the increasing recognition of GSM. 'Yet silence still existed around postpartum lactating individuals who are essentially going through the same physiological experience of a lack of estrogens and androgens,' Perelmuter told Medscape Medical News . 'I was constantly frustrated by how many postpartum patients — especially lactating individuals — experienced debilitating vaginal and urinary symptoms, yet no one named it, asked about it, and very few providers treated it.' This is a physiologic, hormonal, and wholly real condition affecting millions, and it was time it had a name and clinical recognition, she added. Despite its high prevalence, consistent screening at postpartum visits and treatment guidelines are not available. The American College of Obstetricians and Gynecologists, for example, has issued no guidance on GSL. The authors urged clinicians to prioritize awareness, screening, and personalized care to address these underrecognized symptoms and improve quality of life of lactating mothers. Mechanisms During postpartum lactation, high levels of prolactin inhibit estrogen and androgen secretion. 'If you're not lactating, your hormones are able to rebalance faster, whereas if you're lactating, the hormonal shifts are more dramatic due to sustained suppression of estrogen and androgen,' Perelmuter said, noting that exclusively lactating individuals reported a higher burden of symptom severity in all domains. The Review US and international investigators examined 65 eligible studies, of which almost 80% were of high quality. Among the specific findings in postpartum lactating individuals: The prevalence of vaginal atrophy was 63.9% (95% CI, 55.3%-71.6%) and that of dryness was 53.6% (95% CI, 33.6%-72.5%). Meta-analyses for dyspareunia at 3, 6, and 12 months revealed pooled prevalence estimates of 60.0% (95% CI, 45.1%-73.3%), 39.7% (95% CI, 28.9%-51.5%), and 28.5% (95% CI, 26.3%-30.9%), respectively. Pooled odds ratios at these timepoints were 2.33 (95% CI, 1.92-2.83), 2.24 (95% CI, 1.62-3.10), and 1.45 (95% CI, 1.36-1.56), respectively. The pooled prevalence of sexual dysfunction was 73.5% (95% CI, 59.1%-84.2%). The mean Female Sexual Function Index score was 21.5 ± 1.83, indicating significant dysfunction. 'Honestly, we were shocked by how widespread and underrecognized these symptoms are,' Perelmuter said. 'GSL is a hormonal mirror of GSM, but it's happening during what we culturally frame as a joyful and healthy time — early motherhood — but which is also defined by a massive lifestyle shift.' The investigators were also struck by the finding that more than 70% never seek or receive care. 'These symptoms are not a niche problem. They're systemic, frequent, and deeply impactful. The data validated what many of us have seen in clinic but felt powerless to name.' If your postpartum patient is lactating and reporting dryness, pain, or sexual dysfunction, offer treatment, she advised. 'A simple question, a brief explanation, and an offer of vaginal estrogen or pelvic floor therapy can be life-changing. It's time we bring this into mainstream training for primary care, Ob/Gyns, midwives, lactation consultants, and even pediatricians. Our patients are already experiencing it — we just need to catch up.' Irwin Goldstein, MD Commenting on GSL but not involved in the review, Irwin Goldstein, MD, director of San Diego Sexual Medicine and a clinical professor of urology at University of California San Diego, also stressed the urgent need to raise awareness in the medical community and the public. While it's 'normal' to have low levels of reproductive hormones in both menopause and GSL, this normal state 'leads to unwanted and bothersome and distressing symptoms, which, if appreciated, can be treated,' he told Medscape Medical News . 'The safest hormonal treatment would be intravaginal dehydroepiandrosterone. Its mechanism is intracrinologic [within cells], and it does not enter the bloodstream.' For Perelmuter, GSL is part of a larger pattern in which women's pain — especially postpartum — is being ignored and normalized. 'We need to reframe postpartum care as a time of active healing, not passive endurance,' she said. 'This study is just the beginning. Let's build a future where every lactating person has their symptoms taken seriously, their options explained clearly, and their bodies respected fully.'
Yahoo
20-05-2025
- Business
- Yahoo
Global Ship Lease Inc (GSL) Q1 2025 Earnings Call Highlights: Strong Contracted Revenues and ...
Contracted Revenues: Added $352 million in Q1, bringing 2025 contract cover to 93% and 2026 cover to 75%. Annualized Dividend: Increased to $2.10 per share, up 40% from the previous year. Contracted Revenues as of March 31: Nearly $1.9 billion with 2.3 years of average remaining contract cover. Gross Debt: Increased to just under $778 million due to recent vessel acquisitions. Cash Position: $428 million, with $95 million restricted. Net Debt to EBITDA: Reduced to under 1 as of the end of Q1 2025. Cost of Debt: Lowered to a blended cost of 3.99%. Fleet Break-even Rate: Approximately $9,300 per vessel per day. Refinancing: Recent $85 million refinance extended average maturity to 5.1 years. Warning! GuruFocus has detected 3 Warning Sign with GSL. High Yield Dividend Stocks in Gurus' Portfolio This Powerful Chart Made Peter Lynch 29% A Year For 13 Years How to calculate the intrinsic value of a stock? Release Date: May 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Global Ship Lease Inc (NYSE:GSL) added $352 million of contracted revenues in Q1 2025, bringing their 2025 contract cover to 93% and 2026 cover to 75%, providing insulation against market uncertainty. The company has increased its annualized dividend to $2.10 per share, up 40% from the previous year, reflecting strong cash flow and commitment to returning capital to shareholders. GSL has a robust balance sheet with a cash position of $428 million, allowing for flexibility in managing risks and seizing opportunities. The company has successfully reduced its cost of debt to a blended rate of 3.99%, enhancing financial resilience amidst macroeconomic volatility. GSL's focus on mid-sized and smaller container ships provides operational flexibility and positions the company well in the current market environment, which favors these types of vessels due to trade complexities. The macroeconomic and geopolitical environment remains volatile and uncertain, posing potential risks to future operations and profitability. Despite strong charter rates, some charters fixed during the COVID-19 peak may see a decrease in rates upon renewal, potentially impacting revenue. The company faces challenges from proposed US tariffs and port fees on Chinese-built and operated ships, which could affect fleet operations and costs. There is limited availability of tonnage in the charter markets, which could constrain growth opportunities if demand increases. The order book for ships over 10,000 TU is significantly larger than for smaller vessels, which could lead to increased competition and pressure on rates in the future. Q: You've mentioned the rate environment is strong despite freight rates. Are charter customers interested in extending existing charters at better rates, or are you seeing a good environment as charters roll over? A: Thomas Lister, CEO: It depends on which charters are rolling off. Some charters fixed during the COVID high are still at high levels, and refixing them now might be a notch down. However, there's still appetite to fix at attractive rates, as shown on slide 17 of our presentation. Q: You sold assets to build dry powder. Are there any acquisition plans, or are asset prices not reasonable now? A: George Giouroukos, Executive Chairman: We are always looking at deals but maintain strict criteria. We don't acquire for growth's sake; it must make financial sense. We sold older ships at lucrative prices compared to chartering them and are keeping cash for future acquisitions and investments. Q: How would you characterize the charter markets over the past week, especially after the China-US deal? A: Thomas Lister, CEO: The sentiment and momentum in the charter market mirrored the freight market. There was a pause in April as people assessed the situation, but interest and appetite have picked up again recently. Charter rates remain high due to limited tonnage availability. Q: With rising cash and reduced leverage, what is your strategy for cash management if there are no deals? A: Thomas Lister, CEO: We continue to delever and maintain a strong cash position for flexibility. In uncertain times, having robust cash reserves allows us to manage risks and quickly seize opportunities. Our financial leverage ratio is now under 1x, which we consider a good position. Q: How has the recent surge in spot freight rates affected the term-charter market? A: Thomas Lister, CEO: The charter market has seen similar sentiment changes as the freight market. While there was a slowdown in April, interest has increased recently. Despite limited activity, charter rates have remained high due to the scarcity of available tonnage. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
19-05-2025
- Business
- Yahoo
Global Ship Lease: Q1 Earnings Snapshot
KIFISIA, Greece (AP) — KIFISIA, Greece (AP) — Global Ship Lease Inc. (GSL) on Monday reported profit of $123.4 million in its first quarter. The Kifisia, Greece-based company said it had profit of $3.40 per share. Earnings, adjusted for non-recurring gains, were $2.65 per share. The containership owner posted revenue of $191 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GSL at Sign in to access your portfolio
