FSL Trust Pact with Heidmar’s Sigma Pool for Two Vessels

Singapore-based FSL Trust Management (FSLTM), as trustee-manager of First Ship Lease Trust  announced a new pool agreement for the two LR2 vessels, 2006 built and each 109,672 DWT, FSL Piraeus (ex-Torm Margrethe) and FSL Perth (ex-Torm Marie), which have recently returned from their bareboat charters and have now been renamed.

The Trust has established a new business relationship with Heidmar as these vessels enter into the Sigma Pool.

Heidmar Inc, founded in 1984, is one of the world’s leading commercial tanker operators with a fleet of approximately 80 ships, including VLCC, Suezmax, Aframax / LR2, and Panamax vessels.

Roger Woods, Chief Executive Officer of FSL Trust commented: "We are delighted to be working along with a reputable and knowledgeable partner like Heidmar. This is another positive step forward for the business, providing stable income and strengthening the Trust’s position with this market leader.”

FSL Trust owns a fleet of vessels across major shipping sub-sectors. FSL Trust presently has a diversified portfolio of 19 well-maintained oceangoing, comprising three containerships, twelve product tankers, two chemical tankers and two crude oil tankers.