Tonnage provider Global Ship Lease (GSL) is reaping the benefits of expanding its containership fleet by 50% in the year to date.

The New York-listed company has purchased 23 ships this year, which are among vessels that netted charter renewals amid “the hottest market in recent memory”, according to executive chairman George Youroukos.

The containership owner has concluded fresh charters for 40 vessels of 1,100 to 6,800 teu that will generate $906m of contracted revenue.