Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

FSL Trust sinks into the red

FSL Trust sinks into the red

Singapore: First Ship Lease (FSL) Trust was pushed into a loss due to the early redelivery of a pair of product tankers last year. Singapore-listed FSL Trust reported a full year net loss of $5.7m compared to an $8.4m profit the year before. The Trust said the loss was due mainly the loss of bareboat rental and impairment charges on the redelivery of the two vessels. The Trust reported revenues of $100.5m last year up 1.7% on 2009. "We have maintained a stable footing despite the challenges encountered during the year. Notwithstanding that we now have two tankers deployed in the spot market, our primary business focus remains on long-term bareboat leasing," said Philip Clausius, ceo of FSL Trust Management. [20/01/11]

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.