FSL Trust confirms feeder boxship sale to MPC

FSL Trust confirms feeder boxship sale to MPC

Struggling Singapore shipping trust First Ship Lease Trust has confirmed the sale of 2003-built feeder boxship FSL Santos to Germany’s MPC Container Ships for $6.195m.

The 1,221 teu vessel, which had been deployed in the Hanse Containership Pool, will record a $800k gain for FSL after proceeds are used to pay off the vessel’s loan facility.

Roger Woods, chief executive officer of FSL, commented: “We are very pleased to have been able to dispose of one of the Trust’s older vessels. The Disposal of this 14-year old vessel also saves the Trust the expense of a third special survey due in 2QFY2018”.

MPC Container Ships announced the acquisition of the vessel, to be renamed AS Frida, late October together with a Lomar boxship for a total of $18.4m.

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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