FSLTrust Management Pte Ltd., in its capability as Trustee-Manager of First Ship Lease Trust (the “Trust”), describes its news dated 24 February 2020 as well as 19 March 2020 in regard to the disposal of the petroleum vessel FSL Shanghai (the “Disposal”), as well as additionally reveals that the vessel was effectively provided to her brand-new proprietors, an unaffiliated 3rd party.
Image for Representation Purpose just– Photograph by Sergio Ferrazzano
FSL Shanghai is a 115,000 DWT petroleum vessel constructed in South Korea in 2007, as well as her sale was made in the normal program of service.
Upon conclusion of the Disposal, the Trust understood a gain of US$ 2.600 m1, whilst the web sale profits were US$ 25.320 m. An quantity of US$ 5.562 m of the web sale profits was made use of in the direction of partial early repayment of the Trust’s arrearage as well as the rest of US$ 19.758 m is planned for basic business objectives.
