Singapore: FSL Trust has entered into a two-year time charter agreement with an American oil company for the FSL Hong Kong, a 115,000 dwt crude oil tanker built in 2007.
The new employment is anticipated to generate approximately $16.8m of revenue over the next 24 months, an increase of 47% on the time charter rate at which the FSL Shanghai was contracted for one year in June 2014.
“The increased rate reflects further recent improvement in the crude oil tanker charter market,” the company said in a release to the Singapore Exchange.