Global Ship Lease owns a fleet of 71 containerships ranging from 2,207 to 11,040 TEU, which it leases to major container liner companies under fixed-rate time charters. Customers include CMA CGM, MSC, Maersk, Hapag-Lloyd, ZIM, COSCO, and others — liner companies that charter GSL's ships to supplement their own fleets without committing capital to vessel ownership. GSL earns a fixed daily hire rate per vessel and is responsible for crew, maintenance, and insurance, while charterers cover voyage costs like fuel and port fees. This structure makes revenue highly predictable within a contract term and insulates GSL from fuel price volatility. GSL's core strategy is to lock in multi-year charters at attractive rates during favorable markets, building a large forward revenue backlog — as of early 2026, GSL held approximately $2.24B in contracted revenues, with 99% of 2026 and 81% of 2027 already covered. GSL's fleet focuses on mid-sized and smaller containerships in the 2,000–10,000 TEU range, which management argues are more operationally flexible than very large ships, as they can trade on virtually any route worldwide. GSL pursues a counter-cyclical acquisition strategy — buying vessels at depressed prices, locking in charters at cycle highs, and selling older tonnage at elevated values. Day-to-day technical management is outsourced to Technaram, and commercial management to Conchart, both owned by GSL's Executive Chairman.