Utilize reputable and expert ship manager partners.
GSL will continue to outsource, under close supervision, the technical management of our fleet to well-established ship managers with considerable expertise. This approach also allows us to tailor ship management to the preferences of our charterers and further facilitates effective cost control and risk management;

Maintain financial strength and flexibility.
We intend to preserve financial strength and flexibility so as to be able to take advantage of expansion opportunities at the appropriate time. In support of our growth plan, we have an US$ 800 million credit facility already in place;

Be cost competitive.
GSL will continue to actively manage its capital structure and operating cost base to eliminate inefficiences and minimize the blended costs of our service offering.

Focus on long-term fixed rate charters.
We will continue to enter into long-term, fixed-rate charters with reputable container shipping companies, in order to generate stable and predictable cash flows;

Capitalize on accretive acquisitions.
GSL intends to acquire vessels deployed on charters that are accretive to distributable cash flows, meet stringent technical quality requirements, comply with targeted return thresholds and complement the scope of our service offering and portfolio approach to risk management;

Expand our customer base.
GSL's initial charterer is CMA CGM, which is the third largest liner shipping company in the world and rated BBB-/Ba1 by Standard & Poor's / Moody's. We intend to expand this charterer base, capitalizing on our understanding of the industry and the long term relationships of our management team and board members throughout the container shipping industry;

Maintain a diverse fleet of containerships.
A modern and well maintained fleet reduces off-hire days and operating costs and improves safety. We intend to maintain our fleet to high standards ensuring we have a fleet of geared and gearless containerships, across a range of size categories, to meet the diverse needs of our customer base.

My Comments:

GSL went public in August of 2008...As the global economy improves, so will transport of goods around the world and a sure way is through container ships like GSL.

GSL has an impressive fleet that are up to date.. Their on-the-water fleet comprised 12 containerships including 10 secondhand and two new ships with a total capacity of 36,322 TEU and an average age of 6.5 years. This is very important, as it allows the company without retiring anytime soon these ships for scrap and extends their service to the overall fleet.

Today their on-the-water fleet comprises 16 containerships, with a combined capacity of 59,670 TEU. they have contracted to purchase a further two newbuildings and one secondhand containership. One of these ships is scheduled for delivery in third quarter 2009 and two in fourth quarter 2010.

The total fleet (on-the-water and contracted) ranges from 2,200 TEU to 10,960 TEU with a total capacity of 74,797 TEU and, once all vessels are delivered by fourth quarter 2010, will have at that time an average age of about 5.9 years. All of their vessels will on delivery be time chartered out for periods between 5 and 17 years with an average term of 10 years.

When the economy improves so will shipping and GSL is well positioned to take advantage as explained with their impressive fleet.

I consider this a long-term hold and current buy at these prices.

The company also offers an attractive quarterly dividend of .21 ps.

I own it and have not received compensation..

This will be part of my portfolio going forward and expect excellent ROI as we move out of this sagging economy, into a new global economy with renewed trading with goods and materials..

Have a good day and as always do your DD and invest smart.

Varok
Your friend in the investment community.

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