Singapore-listed First Ship Leasing Trust (FSL) has strengthened earnings visibility after agreeing a package of charter extensions with James Fisher Everard, the tanker arm of the James Fisher Group.
FSL said it has extended the charters for the product tankers Speciality, Seniority and Superiority, with new periods ranging from five months to four years.
At the same time, the parties agreed to remove early termination options on the charters of Shannon Fisher and Solway Fisher, fixing both vessels into employment through 2029.
Taken together, the negotiations add about $12.3m in contracted future revenue, boosting the trust’s forward income profile.
FSL said the deal reflects its strategy of securing longer-term employment with established counterparties when market conditions allow, in order to provide more stable cash flows.