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FSL Trust takes back one Geden-chartered tanker

FSL Trust takes back one Geden-chartered tanker
Troubled First Ship Lease Trust (FSL Trust) has taken redelivery of one of two crude oil tankers, Aqua, previously leased to a subsidiary of Geden Holdings.

The shipping trust has demanded the redelivery of two crude oil tankers from lessee Geden Holdings, which defaulted on their lease payments.

“The trust expects the redelivery of its second crude oil tanker, Action, to take place within July 2013,” FSL Trust announced on Friday.

The redelivered Aqua will be renamed FSL Hong Kong, and FSL Trust has appointed Thome Ship Management Pte Ltd Singapore as technical manager and Teekay Chartering Limited as commercial manager for the tanker.

FSL Trust added that Aqua will commence voyage employment in the spot market shortly.

On Thursday, the top management of the shipping trust quit in what is being described as a “difference of opinion in respect of the management of First Ship Lease Trust and FSL Trust Management Pte Ltd.”

Philip Clausius, president and ceo, of the Singapore-listed trust, was among those who tendered their resignation.

Shares of FSL Trust remained suspended on the Singapore Exchange.

TAGS: Tankers