First Ship Lease Trust ("FSL Trust" or the "Trust") is a Singapore-based business trust which owns a diversified fleet of well-maintained, oceangoing tankers across different segments. The current vessel portfolio comprises 11 tankers of different sizes. Of these, 8 vessels are chartered to international shipping companies on fixed-rate period charters, whilst the other 3 vessels are employed in the spot market or revenue sharing agreements.
As at 31 March 2022, the Trust has contracted revenue from fixed-rate period charters of up to approximately US$33.8 million. The fixed-rate period charters provide the Trust with stable and predictable long-term cash flow, while the vessels employed in the spot market or revenue sharing agreements provide the Trust with flexibility and opportunity to participate in any potential market upsides.
FSL Trust is managed by FSL Trust Management
Pte. Ltd. ("FSLTM" or the "Trustee-Manager").
The Trustee-Manager is responsible for safeguarding
the interests of Unitholders and for FSL Trust's
investment and financing strategies, asset acquisition
and disposal policies, and the overall management
of the Trust's portfolio. The Trustee-Manager aims
to optimise the returns on the Trust's vessel portfolio
by ensuring that the vessels are well run, managing
the various risks and opportunities of the Trust and
improving cash flow generation for the Unitholders
of the Trust.
FSL Trust (D8DU) is listed on the Mainboard of the
Singapore Exchange Securities Trading Limited
(SGX-ST).
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