FSL Trust offloads another vessel

FSL Trust offloads another vessel

Singapore’s First Ship Lease Trust has sold 2003-built 1,221 teu containership vessel FSL Busan for $6.2m.
 
Proceeds from the sale will be applied to the trust’s outstanding loan facility and FSL will record a gain of around $750,000.
 
Roger Woods, chief executive officer of FSL Trust, commented: “We are pleased to have been able to dispose another of the Trust’s older vessels which will enable the Trust to further reduce its debt under the Syndicated Loan facility to US$132 million. The Board and Management are continuing to pursue solutions for refinancing the Trust.”
 
Earlier in the week, FSL Trust announced that it had offloaded chemical tanker FSL Tokyo for $13.8m
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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