The 115,000 dwt FSL Shanghai has been chartered Tesoro Corporation for 12 months for $5.7m, an increase of $1.7m over the previous contract for the vessel.
The FSL Shanghai was previously on a long-term sale and leaseback deal to Geden Lines which defaulted in 2013, one of a number of defaults for the Trust. In the middle of last year FSL Trust’s senior management quit enmasse.
“Securing this contract illustrates the value the new senior management team adds to the commercial operations of the Trust,” said FSL Trust Management chairman Tim Reid.
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