FSL Trust Management, the trustee-manager of First Ship Lease Trust, has announced that it has entered into a memorandum of agreement to purchase a 2007-built, 45,998dwt product tanker for $21.8m.

FSL Trust acquires second-hand tanker

Image: firstshipleasetrust

The vessel is expected to be delivered between November 2015 and January 2016, and is intended to be employed in the spot market.

FSL Trust’s fleet will grow to 24 vessels upon delivery of the vessel, comprising seven containerships, twelve product tankers, three chemical tankers and two crude oil tankers.

“We are pleased to announce the acquisition of this MR product tanker. It’s a sector we know well and where we have achieved good results this year,both with vessels in the spot market and, now, on time charter. Moreover, this acquisition demonstrates the ongoing execution of our strategy, outlined earlier this year, to renew the fleet and generate incremental revenue ahead of the scheduled re-delivery in 2016 of the panamax containership vessels, currently on bareboat charter to Evergreen,” said Alan Hatton, ceo of FSL Trust.

Source: firstshipleasetrust.com