FSL Trust Agrees To Sell One Product Tanker
The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (“FSL Trust” or the “Trust”), announces that a whollyowned subsidiary of the Trust has entered into a memorandum of agreement to sell the vessel FSL Osaka (the “Vessel”) to an unaffiliated third party and received the initial 10% deposit in escrow.
The Vessel is a 45,998 DWT medium-range product tanker built at Shin Kurushima in Japan in 2007 and has been deployed in a pool. The disposal is made in the ordinary course of business. Details of the net proceeds of the disposal and their utilization will be announced upon completion of the disposal.
FSL Trust refinances 5 tankers March 2, 2021, by Jasmina Ovcina
FSL Trust Management, the trustee-manager of First Ship Lease Trust, has secured a deal with an unnamed Taiwanese financial institution for the refinancing of five product tankers.
The loan is worth a total of $ 15 million and it will have a maturity of 5 years from the date of drawdown.
The vessels covered by the loan include Cumbrian Fisher, Clyde Fisher, Shannon Fisher, Solway Fisher, Seniority, and Superiority.
The deal is subject to definitive documentation.
The vessels currently secure an existing loan which shall be repaid in full, Singapore-listed FSL Trust said.
The refinancing agreement is being reported on the back of the sale of a product tanker FSL Osaka.