FSL extends product tanker cover with James Fisher
Singapore-listed
First Ship Leasing Trust (FSL) has strengthened earnings visibility after
agreeing a package of charter extensions with James Fisher Everard, the tanker
arm of the James Fisher Group.
FSL said it has extended the charters for the
product tankers Speciality, Seniority and Superiority, with new periods ranging from five months
to four years.
At the same time, the parties agreed to remove early termination options
on the charters of Shannon Fisher and Solway Fisher, fixing both vessels into
employment through 2029.
Taken together, the
negotiations add about $12.3m in contracted future revenue, boosting the
trust’s forward income profile.
FSL said the deal
reflects its strategy of securing longer-term employment with established
counterparties when market conditions allow, in order to provide more stable
cash flows
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