Crude Oil Tanker Redelivered to FSL Trust
As of July 4, 2013, FSL Trust has taken redelivery of Aqua, one of the two crude oil tankers previously leased to the subsidiary of Geden Holdings Ltd. Aqua will be renamed FSL Hong Kong. FSLTM has appointed Thome Ship Management Pte. Ltd. Singapore, as technical manager and Teekay Chartering Limited as commercial manager for FSL Hong Kong and the vessel will commence voyage employment in the spot market shortly. The trust expects the redelivery of its second crude oil tanker, Action, to take place within July 2013. Further announcements will be made as and when there are material developments in this matter, the company said. firstshipleasetrust.com
Tankship Re-delivered to FSL Trust
FSL Trust has taken redelivery of 'MV Aqua', one of the two crude oil tankers previously leased to the subsidiary of Geden Holdings Ltd. The crude oil tankship will be renamed FSL Hong Kong. FSL Trust Management has appointed Thome Ship Management Pte. Ltd. Singapore, as technical manager and Teekay Chartering Limited as commercial manager for FSL Hong Kong and the vessel will commence voyage employment in the spot market shortly. The Trust expects the redelivery of its second crude oil tanker, Action, to take place within July 2013. Further announcements will be made as and when there are material developments in this matter. First Ship Lease Trust ("FSL Trust") is a Singapore business trust that provides lease financing solutions to the maritime industry.
FSL Trust Demands Redelivery of Crude Oil Tankers
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), wishes to announce that the lessees of its two crude oil tankers, namely, Aqua and Action, have defaulted on their lease payments and FSLTM has demanded the redelivery of these vessels. The lessees are wholly-owned subsidiaries of Geden Holdings Ltd. FSLTM had been in restructuring discussions with Geden since the end of 2012. However, as of the date of this announcement, the lessees have failed to pay the agreed lease payments due for Aqua and Action. The obligations of the lessees are guaranteed by Geden pursuant to the deeds of guarantee.
