Singapore-based product tanker owner First Ship Lease Trust has agreed to sell one of its product tankers to an undisclosed buyer.
Specifically, the board of directors of FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, has announced that FSL-1, Inc., a wholly-owned subsidiary of the Trust, has entered into a memorandum of agreement to offload the vessel Cumbrian Fisher.
The company didn’t disclose the price, but it said that it has sealed a deal to sell the vessel to “an unaffiliated third party who lodged a 10% deposit in escrow.”
The vessel Cumbrian Fisher is a 12,921-dwt product tanker built at Samho in South Korea in 2004 and has been employed under bareboat charter.
Furthermore details of the disposal will be disclosed upon completion of the deal, the company said.
The current vessel portfolio of First Ship Lease Trust comprises of eight tankers of different sizes, built between 2004 and 2008, which are chartered to an international shipping company on fixed-rate period charters.
