Fri, Sep 19, 2014, 2:34 PM EDT - U.S. Markets close in 1 hr 26 mins

Recent

% | $
Quotes you view appear here for quick access.

Global Ship Lease, Inc. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • edgetrader2001 edgetrader2001 Jul 25, 2012 9:50 AM Flag

    Recharter press release - 8 months

    These were basically chartered at fair market. I don't think it's accurate to net out the preferred redemption in the calculation. If you remember the original registration statement, exercise of the original Marathon Acquisition / GSL warrants were slated to redeem the preferred shares from CMA CGM. Some of those warrants were exercised, and the proceeds were being held in restricted cash. They would have been redeemed in 2016, but essentially the cash was spoken for. What GSL did was basically give them the cash early. What does GSL really forego? Interest earned on the $3M. In today's markets that amounts to very little. Yet, it is clear that CMA could use cash from wherever. GSL basically accelerated an eventuality and it's not like GSL could have used the cash for other purposes. To me it's a "meh" event.

    The charter rates were pretty much baked into the equation as have been discussed here and on the conference calls. Not really much that was surprising in the release, IMO.

 
GSL
4.3979+0.1279(+3.00%)2:34 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.