First Ship Lease Trust Q1 profit dives on loss from disposal of vessels

Singapore

FIRST Ship Lease Trust's net profit fell 55.1 per cent to US$2.3 million in the first quarter of 2016 after incurring losses from selling vessels.

The trust, which owns ships and provides leasing services on a long-term bareboat charter basis, reported that earnings fell to 0.36 US cent per share for the three months ended March, from Q1 2015's 0.77 US cent.