FSL offloads product tanker – Splash247

Singapore’s First Ship Lease Trust (FSL) has announced the sale of 2006-built (Hyundai Mipo) product tanker
FSL Singapore to an unaffiliated third party.

The vessel was the only ship in the FSL fleet trading in the spot market, and leaves the company with eight product tankers which are all chartered by James Fisher.

Earlier this week, FSL announced it was looking to expand its portfolio into renewables and energy-related offshore assets that generate long-term cash flows and income. The owner said that volatility and fierce competition, among other things, make it difficult to develop a competitive advantage in existing shipping markets.