GSL opens its board to CMA CGM

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Boardrooms can be very secretive places, with much off-record discussion and the minutes of meetings not necessarily reflecting the mood of debates.

Shipowner Global Ship Lease, a spin-off from CMA CGM and still 45% owned by the French carrier, has, until now surprisingly, not included a representative from its main shareholder on its four-member board.

It is even more surprising with the company’s value underscored by almost $1bn of contracted charter hire revenue from CMA CGM on its 17-ship fleet with an average ...