FSL Trust Management sells product tanker for $9.3m

Net gains will be used for general corporate purposes.

FSL Trust Management, trustee-manager of First Ship Lease Trust, has sold the Clyde Fisher vessel to an unaffiliated third party for $9.3m (US$7m).

The net book value and the net tangible asset value of the 20-year-old vessel upon the sale was $7.6m (US$5.75m).

After considering the transaction cost, the Trust realised a net gain of $801,240 (US$600,000) and net sales proceeds of $8.5m (US$6.4m) which will be used for general corporate purposes.

($1=US$0.74)

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