Woods steps up to CEO at FSL Trust

Struggling FSL Trust has confirmed Roger Woods steps up from COO to take the vacant CEO role at the Singapore firm.

Woods has been at FSL since 2013 and been in the acting CEO role since Alan Hatton sensationally quit in February. Prior jobs include stints at FR8 and Tamoil Shipping.

FSL Trust managed to eek out a $3.4m net profit in the first quarter this year.

“[A]lthough shipping markets across all sectors will remain under pressure in the near term, our careful management of the charter book continues to provide some insulation for the trust from current market volatility,” Woods said in a statement yesterday.

Navios Maritime Holdings has in recent days come to the rescue of FSL Trust, taking 24.23% of the issued units in the trust. Navios has also committed to extend a $20m second priority mortgage convertible loan to the trust.

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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