Global Ship Lease (GSL) reported a 13% increase in revenue for the first quarter thanks to two deals cut last year with Orient Overseas Container Lines (OOCL), while net income rose sharply versus year-ago results.

The New York-listed owner reported earnings per share $0.10 per share versus breakeven results in the year earlier as net income of $4.7m during the period rose from $24,000 a year earlier.