Singapore's First Ship Lease Trust H1 profit falls on lower vessel disposal gains

First Ship Lease Trust

04/08/2026 10:34

Overview
Singapore tanker lessor's half-year revenue rose 10.6% yr/yr
Net income for half-year fell 56.6% yr/yr
Profit decline partly due to absence of vessel disposal gains

Outlook
Shipping demand will continue to be influenced by geopolitical events until some stability returns, company says

Result Drivers
DISPOSAL GAINS ABSENT - Profit decline was mainly due to lack of vessel disposal gains compared to prior period
HIGHER DEPRECIATION - Depreciation expense on vessels increased 23.7% yr/yr, weighing on profit
FEWER VESSELS - Average number of vessels fell to 6.0 from 6.3, a 4.8% decrease

Company press release: ID:nSNbvgMHv

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$3.32 mln
 
H1 Net Income
 
$758,000
 
H1 Pretax Profit
 
$744,000
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)