Brief: First Ship Lease Trust says MoU to purchase product tanker

First Ship Lease Trust

25/10/2015 23:58

Oct 26 (Reuters) - First Ship Lease Trust  FSLT.SI : 
 * Fsl trust grows fleet with cash acquisition of mr tanker 
 * Says acquisition will be financed through existing cash reserves that totalled US$41.8 million at 30 June 2015 
 * Entered into a memorandum of agreement to purchase a 2007, Japanese-built, 45,998-dwt mr product tanker for US$21.8 million 
 * The acquisition will be entirely cash-financed" 
 * Fsltm expects deal to deliver an annual cash-on-cash yield of 14.5% based on a conservative tce of US$16,500 per day over the next three years 
 * Source text for Eikon  ID:nSNZ4wYw0Z  
 
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