Singapore shipping trust FSL Trust Management says it is currently in negotiations with banks regarding the refinancing of chemical tankers FSL New York and FSL London.
The company had been considering either the sale or refinancing of the vessels, and decided to opt for refinancing in view of the current poor market conditions for chemical tankers.
FSL Trust said it is continuing to pursue a full refinancing of the trust’s exisiting loan facilities in order to fully repay current lenders. In February, Greek shipowner Prime Tanker Management took a controlling take in the trust from German bank HSH.
FSL Trust currently operates a fleet of 19 vessels comprising 16 tankers and 3 boxships.