Singapore’s First Ship Lease Trust (FSL) is exiting the crude oil tanker sector with the sale of its last remaining aframax.
The company’s subsidiary has struck a deal with an unaffiliated third party to offload the 2007-built
FSL Hong Kong.
According to VesselsValue data, the 115,000 dwt ship built at Samsung Heavy Industries in South Korea was sold to unknown Chinese buyers for $19.4m. FSL said the buyer has lodged a 20% deposit in escrow.
The FSL Hong Kong has been deployed in a revenue-sharing deal since April 2017 and entered spot trading in July last year.
Following the disposal, FSL’s vessel portfolio will comprise 10 units, of which nine product tankers and one chemical tanker FSL London.