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.
U-Ming invests in Capesize pair February 1, 2021, by Jasmina Ovcina U-Ming Marine Transport Corporation, a Taiwanese bulk carrier company, has ordered two 210,000 dwt bulk carriers from China Shipbuilding Trading Co. and Qingdao Beihai Shipbuilding Heavy Industries.
Under the contract, U-Ming has options to buy two more ships potentially bringing the total value of the contract to $200 million, with each vessel priced at $50-55 million.
The delivery of the firm duo is expected in 2023.
The shipping company already has 6 newbuilds on order, according to the data from VesselsValue, including four Capesize vessels at Shanghai Waigaoqiao Shipbuilding and two Post Panamax bulkers at Oshima Shipbuilding with deliveries spread across 2022 and 2023.