First Ship Lease Trust ("FSL Trust") was constituted as a business trust in Singapore on 19 March 2007 under the Business Trusts Act and listed on the main board of the Singapore Exchange Securities Trading Limited on 27 March 2007. Its American Depository Receipts are quoted on OTCQX since 29 October 2008. The Sponsor of FSL Trust is FSL Holdings Pte. Ltd.

FSL Trust’s business focuses on long-term bareboat leasing from which it derives stable long-term cashflow. FSL Trust currently owns a diversified portfolio of 23 modern vessels with an average age of 5.2 years*. The vessel type include tankers, containerships and dry bulk carriers.

FSL Trust leases 21 of its 23 vessels on long-term bareboat charter basis to seven reputable shipping companies. The remaining contracted lease revenue of these 21 vessels stood at US$640 million as at 30 June 2010 and the dollar-weighted average remaining lease term (excluding extension periods and early buy-out options) was 7.7 years. The remaining 2 vessels are currently deployed in the product tanker spot market under the commercial manager UPT United Product Tankers.

FSL Trust aims to continue to grow and diversify its vessel portfolio via accretive acquisition of vessels with leases.

FSL Trust is managed by FSL Trust Management Pte. Ltd., the Trustee-Manager., which is responsible for safeguarding the interests of unitholders and for investment and financing strategies, asset acquisition and disposal policies, and the overall management of the business of FSL Trust.