FSL Trust profit sinks 56.6% to $970k in H1

It was due to the absence of a $950,000 vessel disposal gain.

First Ship Lease Trust (FSL Trust) reported a net income of $970,000 (US$760,000) for the first half (H1) of 2026, down 56.6% from a year earlier.

According to the company, the decline was largely due to the absence of a $950,000 (US$740,000) gain on disposal of a vessel recorded in H1 2025.

Revenue rose 10.6% year-on-year to $4.25m (US$3.32m), but adjusted EBITDA fell 0.7% to $2.32m (US$1.81m).

Operating result dropped 74.3% to $550,000 (US$430,000), dragged down by a 23.7% rise in depreciation. Net income per unit fell 60% to $0.05 (US$0.04).

Fleet utilisation stood at 95%, with $17.68m (US$13.8m) in firm contracted revenue as of 30 June 2026.

The trust's fleet averaged six vessels in H1 2026, unchanged from the second half of 2025.

$1= US$0.78

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