The sale of the 2007-built aframax FSL Shanghai was made by FSL Trust as part of the company’s ordinary course of business, according to FSL Trust Management, trustee-manager of the shipping trust.
“Upon completion of the disposal, the trust realised a gain of $2.6m (unaudited figure), whilst the net sale proceeds were $25.32m. An amount of $5.562m of the net sale proceeds was used towards partial prepayment of the trust’s outstanding debt and the remainder of $19.758m is intended for general corporate purposes,” FSL Trust Management stated.
Singapore-listed FSL Trust presently has a portfolio of 17 vessels comprising of containerships and tankers. Ten of them are leased to international shipping companies on long term bareboat charters. Five are employed on short term time-charters or in pools and two are under construction.
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