First Ship Lease (FSL) Trust secured a three-year time charter agreement to charter a product tanker to Petrobras on a gross daily charter rate of $14,000 a day, Seatrade Asia online reports. The 47,470 dwt FSL Singapore is expected to be deployed within the second quarter of this year.
Under the time charter, Petrobras will be liable for voyage costs (fuel and port charges) whilst FSL Trust will be responsible for all operational costs of the vessel, the shipping trust said.
“We believe that this arrangement will bring further stability to FSL Trust's revenue stream, strengthen its resilience and diversify its customer base. We will continue to seek profitable employment for our vessels that will mitigate our exposure to volatile shipping rates during the downturn,” said Vijay Kamath, senior vice president and chief commercial officer at FSL Trust.
Under the time charter, Petrobras will be liable for voyage costs (fuel and port charges) whilst FSL Trust will be responsible for all operational costs of the vessel, the shipping trust said.
“We believe that this arrangement will bring further stability to FSL Trust's revenue stream, strengthen its resilience and diversify its customer base. We will continue to seek profitable employment for our vessels that will mitigate our exposure to volatile shipping rates during the downturn,” said Vijay Kamath, senior vice president and chief commercial officer at FSL Trust.