Global Ship Lease, Inc. is a containership charter owner. The Company owns a fleet of modern containerships of a range of sizes. The Company's business is to charter out its fleet under long-term, fixed-rate charters to container shipping companies. All vessels are time chartered to CMA CGM S.A. (CMA CGM) for remaining terms as at December 31, 2011 ranging from 1 to 14 years. As of December 31, 2011, the Company's fleet consisted of 17 containerships with an aggregate capacity of 66,349 twenty-foot equivalent unit and a weighted average age of approximately 7.8 years and a non-weighted average age of 8.9 years. All of the vessels are fixed on long-term charters to CMA CGM with an average remaining term of 7.1 years, or 8.3 years on a weighted by capacity basis.