The Board of Directors of FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, announced on Monday (Jun24) that FSL-10 Pte. Ltd., a whollyowned subsidiary of the Trust, has entered into a memorandum of agreement to sell the vessel FSL London to an unaffiliated third party and received the initial 15% deposit in escrow (the Disposal).
The Vessel is a 19,966 DWT chemical tanker built at Usuki Shipyard in Japan in 2006 and has most recently been trading in the spot market.
The Disposal is made in the ordinary course of business. Details of the Disposal in accordance with Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited will be disclosed upon completion of the Disposal.