FSL offloads last aframax

Singapore’s First Ship Lease Trust (FSL) is exiting the crude oil tanker sector with the sale of its last remaining aframax.

The company’s subsidiary has struck a deal with an unaffiliated third party to offload the 2007-built FSL Hong Kong.

According to VesselsValue data, the 115,000 dwt ship built at Samsung Heavy Industries in South Korea was sold to unknown Chinese buyers for $19.4m. FSL said the buyer has lodged a 20% deposit in escrow.

The FSL Hong Kong has been deployed in a revenue-sharing deal since April 2017 and entered spot trading in July last year.

Following the disposal, FSL’s vessel portfolio will comprise 10 units, of which nine product tankers and one chemical tanker FSL London.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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