First Ship Lease Trust unit to sell one vessel

FIRST Ship Lease (FSL) Trust announced on Monday (Dec 16) that its wholly owned subsidiary, FSL-1, will be selling the vessel Cumbrian Fisher to an unaffiliated third party.

FSL-1 has entered a memorandum of understanding with the buyer who lodged a 10 per cent deposit in escrow.

Built at Samho in South Korea in 2004, the vessel is a product tanker of 12,921 deadweight tons and has been employed under bareboat charter.

Units in FSL Trust closed flat at S$0.041 before the announcement.