FSL has fixed MR product tankers FSL Hamburg and FSL Singapore to a an undisclosed global commodities player for two years with six month options, and also fixed the aframax tanker FSL Shanghai for two years plus a 12 month option.
The time charters start in the second half of this year and are worth up to $61m over three years. Rates for FSL Hamburg and FSL Singapore are 31% higher than previously, and a 54% increase for the FSL Shanghai.
Alan Hatton, FSL Trust ceo said: “The new rates are significantly above the current employment rates for the three vessels and the projected revenue will generate significant cash flow for the Trust. These new contract agreements are another positive step forward for the business, providing stable and improved cash flows for the Trust.”
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