FSL Trust agrees to sell one Chemical Tanker

Singapore - 30 August 2021

The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (the “Trust”), announces that FSL-9 Pte. Ltd., a wholly-owned subsidiary of the Trust, has entered into a memorandum of agreement to sell the vessel FSL New York (the “Vessel”) to an unaffiliated third party and received the initial 10% deposit in escrow (the “Disposal”).

The Vessel is a 19,970 DWT chemical tanker built at Usuki Shipyard in Japan in 2006 and has most recently been trading in the spot market.

The Disposal is made in the ordinary course of business.

Details of the Disposal in accordance with Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited will be disclosed upon completion of the Disposal.

First Ship Lease Trust press release