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GSL announced their Q2 2021 results about 10 days ago.

There was more color provided on the developments in the fleet, plus financing details.
In addition, GSL sold one of its older vessels, La Tour, and booked a tidy gain of $7.8M from $16.5M in proceeds.

More clarity was provided on the 2nd acquisition of vessels in June 2021. That allowed me to refresh my NAV numbers.
Fleet value bumps up to $1714.05M
Debt: $835.4M
Cash (including restricted cash): $160.2M
Preferred shares: $60.8M
My NAV number bumps up to $26.93/sh

I am assuming the debt includes the financing on the new vessels (around $140M). Hard to tell, the vessels didn't deliver till sometime in July 2021.
If the debt was not included, the NAV number is $23.09/sh.

The conservative nature of my valuation shows in the La Tour transaction. I had the vessel valued at $6.78M.

One other point, part of the original investment thesis- Container vessel owners with the ability to benefit with vessels on expiring charters. One of the vessels, renamed GSL Eleftheria, that was part of the most recent acquisition is on a charter rate of $12k daily. Starting in Sept 2021, the new charter rate ... $37975 daily!!! for multiple years. Still a few more GSL vessels with expiring rates in 2021. Maybe the rates in each case doesn't triple. But I do think many will, at least, double.
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