Global Ship Lease, Inc. (Global Ship Lease), incorporated on May 3, 2007, acquires and charters vessels to container shipping companies. The Company was incorporated to acquire a fleet of containerships of diverse sizes. It will purchase the vessels in its initial and contracted fleet from CMA CGM S.A. (CMA CGM) and will derive initially all of its revenue from CMA CGM. The Company intends to acquire 10 secondhand vessels and two newbuildings from CMA CGM and certain of its vessel-owning subsidiaries. It refers to these 12 containerships collectively as its initial fleet. In addition to its initial fleet, the Company will also acquire from CMA CGM and its subsidiaries four secondhand vessels and one newbuilding. All vessels in the Company's initial and contracted fleet will be initially time chartered to CMA CGM for terms ranging from 5 to 17 years and a non-weighted average term of 11 years.