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.