FSL Trust sells chemical tanker for US$13.8m to ease debt

Singapore

FIRST Ship Lease Trust (FSL Trust) has sold a chemical tanker for US$13.8 million to help cut its debt.

Net proceeds from the disposal will be used in full to repay an outstanding loan facility in the first quarter of the fiscal year 2018, the trustee-manager said in a bourse filing on Tuesday. Accordingly, FSL Trust will record a related impairment charge of about US$9 million in the fourth quarter of 2017.