BULL grabs FSL product tanker pair by the horns

BULL grabs FSL product tanker pair by the horns

Indonesian tanker owner PT Buana Lintas Lautan (BULL) has splashed out $39.7m to buy 2006-built LR2 product tankers FSL Piraeus and FSL Perth from Singapore’s First Ship Lease Trust (FSL), according to brokers.

Seasure Shipbrokers and Advanced Shipping and Trading are both reporting the deal at $19.85m for each vessel, with VesselsValue putting a market value of $18.2m on the Piraeus and $18.9m on the Perth.

The two vessels have been operating in the Heidmar Sigma pool, and if the sale is confirmed would leave FSL with nine product tankers in its fleet. Meanwhile, BULL would grow its fleet to 26 vessels with its current fleet of 24 consisting of 20 tankers, 3 gas carriers and a single FPSO.

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.

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2 Comments

  1. Avatar
    Alexis Stephanou
    November 18, 2019 at 6:15 pm

    These vessels are 2006- rather than 2016-built.

    1. Grant Rowles
      Grant Rowles
      November 19, 2019 at 11:08 am

      Thanks for spotting that Alexis.