Page 4 - ar2007

PERFORMANCE HIGHLIGHTS
19 March 2007 - 31 December 2007
US$608 million
US$555 million
Fixed contracted lease revenue*
Net Book Value of FSL Trust’s vessel portfolio*
* As at 31 December 2007
Since the constitution of First Ship
Lease Trust (“FSL Trust”) on
19 March 2007, FSL Trust Management
Pte. Ltd., the Trustee-Manager, has
signifcantly grown the business in only
about 9 months of operations since IPO.
The number of vessels in FSL Trust’s
portfolio has increased from 13 to 18
while the value of its total assets has
grown 32% to US$629 million.
Revenue for FSL Trust has similarly
risen by 27% from US$12.0 million for
the second quarter to US$15.2 million
for the fourth quarter 2007. At the same
time, the 2.42 US cents DPU for the
fourth quarter 2007 was 14% higher
than the projection of 2.13 US cents at
the time of the IPO.
Total Growth (No. of Vessels)
2007
Mar 27 (IPO) Jun 30 Sep 30 Dec 31
20
15
10
5
0
13
16 16
18
38%
.02
THE GROWING MARITIME ANNUITY