The Board of Directors of FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust (the “Trust”), refers to its announcement dated 25 August 2022 and further announces that the disposal of the vessel FSL Singapore has been completed with the successful delivery of the vessel to the new owners Waterside International Maritime Inc., an unaffiliated third party, on 25 October 2022, according to the company's release.
The gross consideration paid by the buyer for the vessel upon delivery was US$17.65 million, which was arrived at after arm’s lengths negotiations between FSL-19 Pte. Ltd., the subsidiary of the Trust that owned the vessel, and the buyer on a “willing buyer willing seller” basis.