FSL Sells Cumbrian Fisher Tanker
First Ship Leasing Trust (FSL) has announced the sale of its oldest vessel, the Cumbrian Fisher. This decision marks a significant move for the Singapore-listed product tanker owner. The sale reflects FSL’s ongoing strategy to optimize its fleet and manage its assets effectively.
Details of the Sale
In a recent filing, FSL revealed that it has reached an agreement with an undisclosed buyer for the 2004-built Cumbrian Fisher. While the exact sale price remains undisclosed, FSL confirmed that it has received an initial 10% deposit, which is currently held in escrow. The vessel, with a deadweight tonnage of 12,900, was previously acquired for approximately $16 million. Following the sale, FSL will charter the vessel back to James Fisher, a UK-based company that has been a long-term partner.
The Cumbrian Fisher is part of a larger fleet that FSL operates. Currently, the trust manages eight tankers, all built between 2004 and 2008. These vessels are employed under fixed-rate bareboat charters to James Fisher Everard, a subsidiary of the James Fisher Group, which FSL acquired in 2007. This sale is a strategic move for FSL, allowing the company to streamline its operations while maintaining a strong relationship with James Fisher.
