Marine Link
Tuesday, July 17, 2018

HSH Nordbank to Exit First Ship Lease

Maritime Activity Reports, Inc.

December 24, 2017

Photo: FSL Trust

Photo: FSL Trust

 HSH Nordbank AG's  subsidiary Godan GmbH, the controlling unitholder of First Ship Lease Trust (FSL Trust), is looking to divest all its shares in FSL Holdings, the sponsor of the trust, reported Business Times.

 
The report quoted FSL Trust as saying that Godan GMBH is in discussion with shortlisted strategic investors for a potential sale of all of its shares in FSL Holdings.
 
FSL Holdings also owns all shares of the trustee-manager of FSL Trust through FSL Asset Management Pte Ltd. A sale of FSL Holdings would thus result in a change in the beneficial ownership of the sponsor and the trustee-manager of FSL Trust.
 
The sale by Godan would result in the change of the beneficial ownership of the sponsor and the trustee-manager.
 
FSL Trust is a Singapore-based business trust which owns a fleet of vessels that are chartered or leased across major shipping sub-sectors. FSL Trust presently owns a diversified portfolio of 22 well-maintained and high quality oceangoing vessels comprising containerships and a variety of tankers.
 
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