FSL Trust’s latest charter shows rising tanker fortunes

FSL Trust’s latest charter shows rising tanker fortunes

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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