FSL Trust moves to order LR2 product tanker pair

Singapore shipping trust FSL Trust Management plans to use freshly raised funds to add a pair of newbuild product tankers to its fleet.

The trust has entered into a letter of intent with China’s Cosco Shipping Heavy Industry to order two LR2 product tankers, fitted with scrubbers, for around $97.2m.

The LOI is valid until December 20, and if the order is confirmed will see the vessels delivered in November 2020 and January 2021.

The order is part of FSL’s renewal plans, having announced a preferential offering of around 965m new units last month, intended to raise up to S$43.03m ($31.3m) for investment in its fleet.

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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