Global Ship Lease Inc New · NYSE:GSL
Global Ship Lease Inc New — Global Ship Lease — Third Annual Maxim Group Growth Conference 2009
19 slides from Global Ship Lease Inc New's conference presentation, Sep 29, 2009
Slide 1: Form 6-K Global Ship Lease, Inc.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: September 29, 2009 Commission File Number 001-34153 GLOBAL SHIP LEASE, INC. (Exact name of Reg
Slide 2: Information Contained in this Form 6-K Report
Information Contained in this Form 6-K Report Attached hereto as Exhibit I are slides to accompany a presentation to be given by the Chief Executive Officer of Global Ship Lease, Inc. (the “Company”) at the Third Annual Maxim Group Growth Conference on September 29, 2009. Slide 8 refers to the Compa
Slide 3: Third Annual Maxim Group Growth Conference September 2009
Exhibit I Third Annual Maxim Group Growth Conference September 2009 0
Slide 4: Disclaimer
Disclaimer The financial information and data contained in this communication is unaudited and does not conform to the U.S. Securities and Exchange Commission Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, Global
Slide 5: Safe Harbor Statement
Safe Harbor Statement 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, i
Slide 6: Global Ship Lease: Who We Are
Global Ship Lease: Who We Are Global Ship Lease: Listed on NYSE on August 15, 2008 – Containership charter-owner providing long term, fixed rate time charters – 17 containerships in operation Operating fleet capacity 66,297 TEU; average age 5.5 years Contracted revenue of operating fleet $1.6 billio
Slide 7: Experienced Management Team
Experienced Management Team CP Ships, 1996-2006: CFO and Director Ian Webber – Public company traded on NYSE and TSE Chief Executive Officer – Sold to Hapag-Lloyd in 2005 for $2.3 billion Pricewaterhouse, 1979-1996: Partner, 1991-1996 P&O, 1986-2006: Group Head of Specialized Finance, Head of Struct
Slide 8: Expert and Majority Independent Board
Expert and Majority Independent Board Chairman and CEO of Marathon Acquisition Corp Michael Gross Partner of investment firm Magnetar Capital Chairman and CEO of investment firm Solar Capital Apollo Investment Management LP, 1990 - 2006; President and CEO 2004 - 2006 Currently on the Board of Safmar
Slide 9: Global Ship Lease: Business Strategy
Global Ship Lease: Business Strategy Be a partner of choice to supply capacity to leading liner companies Provide World- Best in class, competitive provider of chartering services Class Service Outsourced ship management philosophy to manage risk and diversify choice High standards and reliable serv
Slide 10: Fleet and Charter Portfolio: Modern, High Quality Tonnage of Diverse Sizes
Fleet and Charter Portfolio: Modern, High Quality Tonnage of Diverse Sizes * Seven to eight years at option of Charterer 7
Slide 11: Acquisition of Two Newbuildings
Acquisition of Two Newbuildings Two 4,250 teu newbuildings for delivery Q4 2010 Being built at established Chinese yard; units 19 and 20 in a series of 44 similar vessels Purchase price approximately $77 million each Deposit of 10% approx $15.5 million paid We will explore financing options for the
Slide 12: Long-Term Industry Opportunity
Long-Term Industry Opportunity 2) Current Orderbook (2009-2011+) Significant industry orderbook needs to be financed 1) Existing Tonnage – Liners and Other Independent Charter Owners Large Orderbook: 916 Vessels / 5.3 mm TEU Capacity 3) Trend to Charter-In Vessels Owned by Liner Companies Chartered-
Slide 13: Second Quarter Financial Results
Second Quarter Financial Results Three months ended Six months ended June 30 June 30 ($ in thousands) (Unaudited) (Unaudited) 2009 2008 2009 2008 Operating revenues $36,193 $22,939 $71,201 $46,833 Operating expenses Voyage expenses - - - 1,944 Vessel operating expenses 10,508 6,821 21,231 14,166 Dep
Slide 14: Balance Sheet
Balance Sheet As of June 30, 2009 As of December 31, 2008 ($ in thousands) (Unaudited) (Unaudited) Assets Cash and cash equivalents 40,733 26,363 Restricted cash 3,026 3,026 Accounts receivable 1,005 638 Prepaid expenses 513 734 Other receivables 955 1,420 Deferred tax asset 420 176 Deferred financi
Slide 15: Cash Generated
Cash Generated Three months ended Six months ended June 30, 2009 June 30, 2009 (Unaudited) (Unaudited) ($ in thousands) Net income $22,762 $33,918 Add: Depreciation 8,986 17,772 Charge for equity incentive awards 863 1,579 Amortization of deferred financing fees 251 625 Less: Change in value of deri
Slide 16: Credit Facility Amendment
Credit Facility Amendment Amended Revolving Facility Highlights Loan-to-Value maintenance covenant waived up to Aggressively pays down debt and enhances ability and including November 30, 2010 with next test to emerge from the unprecedented downturn as a scheduled for April 30, 2011 stronger company
Slide 17: Investment Highlights
Investment Highlights Young fleet with average age of fleet of 5.5 years Modern, High Quality Fleet attractive to charters; able to operate on a variety of trade lanes Fleet Of Diverse Sizes Balanced portfolio of vessel sizes closely mirrors global feet profile Sizeable, contracted revenue with 9.3
Slide 18: Appendix
Appendix GLOBAL SHIP LEASE
Slide 19: Share Count
Share Count 46.380 million Class A common shares, including 12.375 mm Class C common shares converted at January 1, 2009 7.406 million Class B subordinated common shares 39.535 million public warrants at $6 expire August 2010 5.5 million sponsor warrants to be exercised cashless at $6 expire August
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