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FSL Trust firms up its financial position

Singapore shipping trust FSL Trust Management has announced that it will pay down its syndicated loan facility by $20 million utilising available cash.

Payment will be made at the end of this quarter.

FSL reported FY2016 revenues of $98.1m and managed to increase its cash and cash equivalents from $28.8 million to $42.9 million in the same period.

Additionally, FSL also said it will pledge 2007-built product tanker FSL Osaka to its lenders. It acquired the vessel in 2015 for $21.8m.

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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