FSL Trust extends bareboat charters for three product tankers

The three ships are Speciality, Superiority and Seniority, 2006-built and 2007-built, each with capacity of approximately 4,426-dwt, according to an announcement made by FSL Trust Management, the trustee-manager of FSL Trust.

“We are very pleased to have extended this agreement that will continue to generate a stable income for the trust for the next few years. We continue to take the appropriate steps to manage the performance of the trust, with a particular focus on the commercial deployment of the fleet,” said Roger Woods, acting ceo of FSL Trust.

Last week, FSL Trust entered into another agreement with Teekay Group to employ an aframax tanker on a revenue sharing basis. The ship is the 2007-built, 115,000-dwt FSL Hong Kong.

Last month, FSL Trust’s auditors Moore Stephens flagged going concern issues in relation to the Singapore-listed company’s 2016 financial statements, which reported a loss of $30.99m.