HSH sells FSL Trust stake to Prime Tanker Management

HSH sells FSL Trust stake to Prime Tanker Management

Germany’s HSH Nordbank has sold FSL Holding, the holding company of Singapore’s FSL Trust, to an affiliate of Greek shipowner Prime Tanker Management.

HSH Nordbank, which was sold today to a group of private investment companies, put the holding company representing a 24% stake in FSL Trust up for sale in December.

“The Trustee-Manager views this as a positive development for the Trust and anticipates that with a long-term strategic investor controlling the Sponsor, prospects for a refinancing and/or extension of the Trust’s indebtedness should be improved,” FSL Trust said in a release.

Stathis Topouzoglou, the founder and CEO of Prime, has been appointed to the board of FSL as a non-executive director.

FSL currently has a fleet of 19 vessels, made up of three containerships and 16 tankers in various segments.


Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts