Shares of Global Ship Lease (NYSE: GSL) were up more than 10% on Friday morning following positive commentary from a Wall Street analyst. We’re in a period of strong pricing power for maritime transports, and Global Ship is set up well to benefit.
Global Ship Lease is an owner of a fleet of small to mid-sized containerships. The company has been focused on expansion, last month raising fresh capital via a secondary offering and earlier this week putting that money to work with a $116 million deal to acquire seven ships. With the additions, Global Ship Lease has a fleet of 50 vessels with total capacity of more than 287,000 Twenty-foot Equivalent Unit (TEU) containers.