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FSL Trust fixes Aframax tanker to Tesoro
Singapore-listed First Ship Lease Trust said today it has time-chartered an Aframax tanker to oil refiner Tesoro. The 115,000dwt FSL Shanghai would be chartered to Tesoro's subsidiary Tesoro Far East Maritime Company under an arrangement that would generate $5.7M of revenue over the next 12 months. This represents an increase of $1.6M over the previous time charter contract, representing a 40% increase in net revenue year on year. FSL Shanghai was under Teekay Chartering's commercial management. Source: ihsmaritime360.com
FSL demands redelivery of vessels Action and Aqua
FSL Trust Management On June 17 has demanded that two of its two crude oil tankers, Aqua and Action, be redelivered by Geden Holdings Ltd who has defaulted on lease payments. Geden have failed to pay the agreed lease payments despite being in restructuring talks with FSL over many months. FSL intends to deploy the vessels in the spot market for the short term.
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