Search results for: trust

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  • 24 February 2020
    Business & Finance

    FSL Trust has launched the sale of the crude oil tanker FSL Shanghai.

  • 27 February 2018
    Business & Finance

    First Ship Lease Trust has reported a net loss of USD 33.9 million for Q4 of 2017 and USD 73.9 million for the full year.

  • 18 April 2017
    Business & Finance

    Singapore-based First Ship Lease Trust (FSL Trust) has reached an agreement to employ its vessel Aframax crude oil tanker FSL Hong Kong in the Teekay Group Revenue Sharing Agreement post dry docking. The 115,000 dwt tanker was previously employed on a two-year time charter with refiner and marketer of petroleum products Tesoro since June 2015. Built by South […]

  • 28 April 2015
    Business & Finance

    The Canal and River Trust has published a summary of their three-year business plan 2015-2018, which sets out how they plan to raise the money to look after the waterways over the next 36 months and where they plan to spend the money. The document, from chief executive Richard Parry, reports an encouraging financial situation at the […]

  • 9 May 2018
    Business & Finance

    FSL Trust Management is to secure refinancing for FSL Trust’s two chemical tankers, FSL New York and FSL London.

  • 22 April 2020
    Vessels

    The construction of First Ship Lease Trust’s first two 114,000 DWT LR2 newbuildings in China is progressing smoothly despite COVID-19 challenges to the shipbuilding industry, the company’s trustee manager said. The ships, set to be fitted with scrubbers, are being built by COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd and were bought in December 2018 […]

  • 23 May 2018
    Business & Finance

    FSL Trust Management Pte has obtained a commitment of up to USD 18 million for the refinancing of two chemical tankers.

  • 25 April 2017
    Business & Finance

    Singapore’s FSL Trust Management Pte, the trustee-manager of First Ship Lease Trust, has inked a new agreement for the extension of bareboat charters for three vessels. The ships that fixed charters are product tankers Speciality, Superiority and Seniority, built in 2006 and 2007, each featuring approximately 4,426 DWT. The three vessels were chartered out to […]

  • 13 July 2017
    Research & Development

    The Carbon Trust’s Offshore Wind Accelerator (OWA), a collaborative RD&D programme funded by nine offshore wind developers and the Scottish Government, has launched a competition targeted at finding new ways to inspect offshore wind substructures and reduce the cost of offshore wind. The competition is open to innovators with inspection technologies that can provide information […]

  • 18 March 2015
    Business & Finance

    Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) is raising funds through issuance of notes seeking to refinance its subsidiaries’debts. HPH Trust has through its subsidiary HPHT Finance issued the USD 500,000,000 guaranteed notes due 2018 and USD 500,000,000 guaranteed notes due 2020. The notes due 2018 are issued at an issue […]

  • 30 October 2017
    Business & Finance

    Although its combined container throughput increased in the third quarter of 2017, Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) saw a drop in its earnings for the period. The company’s profit for the three months ended September 30 was down by 16.4 percent and stood at HKD 678.5 million at the end […]

  • 3 August 2017
    Business & Finance

    Singapore-based First Ship Lease Trust (FSL Trust) posted a net loss of USD 21.8 million in the second quarter of 2017 due to USD 24.1 million of non-cash impairment on eight ships in its fleet. The loss was reported against a USD 7.7 million profit booked for the corresponding quarter in 2016. Revenue declined 17.4% year-on-year, primarily […]

  • 6 February 2018
    Business & Finance

    HPH Trust ended 2017 with a drop in earnings, while volumes continued rising.

  • 2 April 2020
    Business & Finance

    FSL Shanghai, a crude oil tanker, was sold to Performance Shipping.

  • 20 November 2019
    Business & Finance

    Singapore-based FSL Trust has decided to dispose of two 109,672 dwt LR2 product tankers.

  • 10 February 2017
    Business & Finance

    The Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) ended 2016 with its revenue and other income at HKD 11.9 billion (USD 1.5 billion), representing a drop of 5.6 percent from the previous year’s HKD 12.6 billion (USD 1.6 billion). The container throughput of HPH’s Hong Kong terminals HIT decreased by 6.2% as […]

  • 21 July 2017
    Business & Finance

    Rickmers Trust Management, the trustee-manager of Rickmers Maritime, has received an approval to delist from the Singapore Exchange as part of its efforts to wind up the Trust. The move comes on the back of the company’s inability to make a reasonable exit offer to unitholders, whether by way of a voluntary liquidation of the Trust’s assets and […]

  • 14 June 2011
    Business & Finance

      Only a week after the announcement of its first proposed acquisition in 2011, First Ship Lease Trust (“FSL Trust” or the “Trust”), which is managed by Trustee-Manager FSL Trust Management Pte. Ltd. (FSLTM), has entered into another definitive agreement to purchase its second Long Range II (LR2) product tanker from TORM Singapore Pte. Ltd., […]

  • 19 December 2017
    Business & Finance

    Singapore-based FSL Trust Management has launched negotiations with lenders to extend the maturity of its USD 479.5 million loan by one year. A total of USD 165.6 million remains to be repaid under the facility, which dates back to December 2011. “A majority of the lenders under the syndicated loan facility have indicated their support for […]

  • 11 June 2014
    Business & Finance, Equipment, Project & Tenders

    The Carbon Trust’s Offshore Wind Accelerator is joining forces with Statoil, Statkraft, EON, DONG Energy and Universal Foundation, in close co-operation with Aalborg University, to undertake installation trials of the Universal Foundation ‘suction bucket’ offshore wind foundation. Such innovative foundation designs alone have the potential to reduce the capital costs of offshore wind energy by […]

  • 5 February 2016
    Business & Finance

    FSL Trust Management Pte, the trusteemanager of First Ship Lease Trust, has sold two containerships for USD 10.8 million as it failed to find further employment for the boxships in an already oversupplied market. Ever Radiant and Ever Respect are Japanese-built, 4,229 TEU containerships built in 1994 and 1995 respectively. The two vessels have been on bareboat charter to […]

  • 10 October 2016
    Business & Finance

    Privately-owned container carriers could risk losing shippers’ trust if they do not provide any data on their level of indebtedness and balance sheet strength, according to shipping consultancy Drewry. The recent failure of South Korean carrier Hanjin Shipping has exposed the high level of financial risk that exists and created renewed demand for financial transparency. While Hanjin’s financial […]