Overview

First Ship Lease Trust is a Singapore-listed business trust that provides ship leasing services on a long-term bareboat charter basis to the shipping industry.

First Ship Lease Trust (Reuters: FSLT.SI; Bloomberg: FSLT SP) is a Singapore-listed business trust that provides ship leasing services on a long-term bareboat charter basis to the shipping industry. FSL Trust has a diversified portfolio of 25 modern and high quality vessels, consisting of seven containerships, eleven product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. 20 of the 25 vessels are on long-term bareboat charters, two vessels are presently deployed in the product tanker spot market and three vessels will be deployed in a chemical tanker pool within the first half of 2012.

FSL Trust generates stable and predictable revenue stream through its portfolio of vessels on long-term bareboat leases. As at 31 December 2011, the aggregate remaining contracted revenue of the 20 bareboat leases is US$491.8 million and the remaining lease term is six years* (excluding extension periods and early buy-out options). FSL Trust aspires to continue to grow and diversify its portfolio through additional accretive vessel acquisitions with long-term bareboat leases.

FSL Trust is listed on the Singapore Exchange Securities Trading Limited ("SGX-ST") and is managed by FSL Trust Management Pte. Ltd. ("FSLTM"), the Trustee-Manager. FSL Trust's American Depository Receipts (ADR) are quoted on international OTCQX under the ticker 'FSHPY'.

* Based on dollar-weighted average basis by net book value.