Asia
Disastrous final quarter pushes FSL into the red for 2012
Â
Singapore: An especially brutal final quarter saw Singapore’s First Ship Lease Trust notch up an $8.4m loss for 2012, on the back of revenue slipping 4.2%.
Â
Three tankers were taken back by Berlian Laju Tankers and charters were slashed on a pair of Torm ships, leading to a big dent in revenues for the final three months of the year.Â
Â
Philip Clausius, ceo of the trust, said:  “2012 has been very challenging, but the trust’s disciplined approach and wide network have helped to deploy our spot vessels to longer term arrangements within a relatively short time frame. This has enhanced our revenue visibility and improved our operational profile.”
Â
“However, the prolonged crisis has taken a toll on many shipping companies. We are cognizant of the pressures that some of our lessees are under as can be seen from the restructuring discussions we are currently having.â€
Â
FSL has 25 tankers, containerships and bulkers, mostly on bareboat deals. Â [22/01/13]