Global Ship Lease, Inc. (NYSE:GSL) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 10:30 am ET


Global Ship Lease, Inc. (NYSE:GSL) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Global Ship Lease Second Quarter 2020 Earnings Call. [Operator Instructions] As a reminder, today's conference is being recorded.

I would now like to introduce for this conference call, Mr. Ian Webber, Chief Executive Officer of Global Ship Lease. You may begin, sir.

Ian J. Webber

Thank you very much. Good morning, good afternoon, everybody, and welcome to the Global Ship Lease second quarter 2020 earnings conference call. As normal, the slides that accompany today's presentation are available on our website, Also, as normal, Slides 1 and 2 remind you that today's call may include forward-looking statements that are based on current expectations and assumptions and are, by their nature, inherently uncertain and outside of the Company's control. Actual results may differ materially from these forward-looking statements due to many factors, including those described in the safe harbor section of the slide presentation. We also draw your attention to the Risk Factors section of our most recent annual report on Form 20-F, which is for 2019 and was filed with the SEC on April 2, 2020, and which you can obtain via our website or via the SEC's. All of our statements are qualified by these and other disclosures in our reports filed with the SEC. We do not undertake any duty to update forward-looking statements.

For reconciliations of the non-GAAP financial measures to which we will refer during this call to the most directly comparable measures calculated and presented in accordance with GAAP, you should refer to the earnings release that we issued this morning, which is also available on our website.

I'm joined today by our Executive Chairman, George Giouroukos; our Chief Financial Officer, Tassos Psaropoulos; and our Chief Commercial Officer, Tom Lister. George will begin the call with some high-level commentary and an update on our current areas of focus. And then Tassos, Tom and I will take you through the quarterly results, our financials and the current market environment, after which we'll be pleased to take your questions.

So turning to Slide 3, I'll pass the call to George.

George Youroukos

Thank you, Ian. Since our first quarter earnings call, a great deal has changed in the world in the container shipping industry. Economies are beginning to reopen in many countries. Containerized freight volumes are starting to improve. And importantly, policies have been put in place in many parts that make it possible for seafarers safely disembark and to reestablish more normal crew rotations.

I am personally grateful to all of our crew who have continued to operate our ships to the highest standards throughout this difficult period. At the same time, COVID-19 continues to be a major factor in many areas, and much remains unknown moving forward. With that perspective, our top priority continues to be maintaining vigilance and resilience in this challenging environment in respect of our people, our ships and our commercial platform.

Our specific areas of focus remain largely consistent with those we discussed last quarter.