FSL Trust has acquired a 2007, Japanese-built MR product tanker for US$21.8 million ($30.5 million) to improve its revenue stream by 2016.
The shipowner and provider of leasing services will finance the deal from existing cash reserves totalling US$41.8 million, after signing a memorandum of agreement for the acquisition.
The vessel is expected to be delivered between Nov 1, 2015 and Jan 31, 2016. It will be employed in the spot market through a first class commercial manager.
The charter is expected to deliver an annual cash-on-cash yield of 14.5% based on a conservative TCE of US$16,500 per day over the next three years.
Upon delivery of the vessel, FSL Trust's fleet will stand at 24 vessels, comprising seven containerships, 12 product tankers, three chemical tankers and two crude oil tankers.
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The shipowner and provider of leasing services will finance the deal from existing cash reserves totalling US$41.8 million, after signing a memorandum of agreement for the acquisition.
The vessel is expected to be delivered between Nov 1, 2015 and Jan 31, 2016. It will be employed in the spot market through a first class commercial manager.
The charter is expected to deliver an annual cash-on-cash yield of 14.5% based on a conservative TCE of US$16,500 per day over the next three years.
Upon delivery of the vessel, FSL Trust's fleet will stand at 24 vessels, comprising seven containerships, 12 product tankers, three chemical tankers and two crude oil tankers.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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