First Ship Lease Trust enters Teekay Revenue Sharing Agreement
FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, announces that the Trust has agreed to employ the vessel FSL Hong Kong (a 115,000 DWT Aframax crude oil tanker), post dry docking, in the Teekay GroupRevenue Sharing Agreement (RSA).
This agreement continues the Trust’s relationship w ith Teekay, which started back in 2013. Teekay was established in 1973, and has developed from being a regional shipping company into one of the world’s largest marine energy, tran sportation, storage and production companies, with four NYSE listings. Teekay is the world’s largest Aframax owner, and commercially manages over 100 tankers, including Suezmax, Aframax and LR2 vessels.
About First Ship Lease Trust
First Ship Lease Trust is a shipowner and a provider of leasing services o n a long-term bareboat charter basis to the international shipping industry. The Trust has a diversified portfolio of 22 modern and high-quality vessels, comprising five containerships, 12 product tankers, three chemical tankers and t wo crude oil tankers. FSL Trust is listed on the main board of th e Singapore Exchange Securities Trading Limited (SGX-ST).