FSL Trust - Alan and Roger

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (“FSL Trust” or the “Trust”) announces new time charter agreements for FSL Shanghai, FSL Hamburg and FSL Singapore.

The Trust has reached an agreement with a leading global commodities trader to charter the three vessels for a fixed period of two years with options to extend the agreements at a higher rate for FSL Hamburg and FSL Singapore for a further six months and FSL Shanghai for a further 12 months. FSL Hamburg and FSL Singapore are MR product tankers built in 2005 and 2006 respectively whilst FSL Shanghai is an Aframax crude oil tanker that was built in 2007.

The time charter agreements are expected to commence during the second half of this year and are anticipated to generate up to US$61 million in revenue for the Trust over the next three years.

Tags: FSL Trust Management Pte. Ltd.