First Ship Lease Trust (FSL Trust) has sold its product tanker "Clyde Fisher" to an unaffiliated third party, according to the company's release. A memorandum of agreement has been signed, with the buyer lodging a 10% deposit in escrow.
The "Clyde Fisher," a 12,984 dwt vessel built at Samho in South Korea in 2005, had been employed under a bareboat charter with UK shipping company James Fisher. The sale price was not disclosed.
Following the announcement on February 13th, shares in FSL Trust closed down 0.1 cents, or 2.27%, at 4.3 cents.
VesselsValue estimated the "Clyde Fisher," the oldest and largest vessel in FSL's fleet, at approximately $8.3 million. The vessel came off charter with James Fisher earlier this year. This sale follows FSL Trust's December disposal of its then-oldest tanker, the "Cumbrian Fisher" (built 2004), for a net cash consideration of approximately $6.6 million, resulting in a profit of $2.3 million.
After the "Clyde Fisher" sale, FSL Trust will own six tankers built between 2006 and 2008, all under bareboat charters to James Fisher Everard, a subsidiary of the James Fisher Group.
First Ship Lease Trust (FSL Trust) is a Singapore-listed owner of a diversified fleet of tankers.
James Fisher is a UK-based marine services company providing a range of services to the shipping and offshore energy industries.