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Is the company's mangement doing anything to revive this stock?
Quite likely it will be dead, v.dead.
FSL Trust looks like want to climb, want to climb. Any good news?
Thats what i thought. Plus majority of the fleet will have gone through the compulsory 5 year dry docking which is normally a huge cost. Its already nearby the all time low. How worse can it get right? So i just started to park some.
With oil price falling down for some time and then recently steeply, FSL is worth to look at. Lower fuel prices play very important factor for better profitability. Moreover it has very low valuation compared to NAV ps.
wow FSL??!!
few yrs back i remembered owning this one for its good dividend but dumped it once it kept diluting.
good old memories.
Starsailor ( Date: 03-Oct-2012 16:15) Posted:
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Anyone jumping in to this so called sinking ship?
TORM has been in discussions with its tonnage providers, including FSL Trust, to realign its charter-in agreements. These discussions resulted in a proposed long-term comprehensive financing solution with all its tonnage providers to address its current financial difficulties. For FSL Trust, bareboat charter rates for the Vessels are to be realigned to variable rates that TORM achieves in the market. The early buyout, purchase and lease extension options in the original bareboat agreements are to be cancelled and FSL Trust will be allocated equity in TORM in exchange for the rate concessions. FSL Trust also has the option to terminate the charters in the event that actual rates achieved by TORM for the Vessels underperform the market benchmark by a pre-agreed margin, tested semi-annually. The above proposed terms require approval from FSL Trust’s lenders. While some lenders have already given their consent, formal approval is still pending.
Given the variable nature of the renegotiated rates and the allocated equity stake in TORM, FSL Trust is positioned to participate in the benefits of the eventual market recovery.
souece: FSL TRUST RENEGOTIATES CHARTER TERMS FOR TORM PRODUCT TANKERS
‘FSL Singapore’ is a 47,470 dwt product tanker which is currently deployed in the spot market.
The product tanker will be chartered to Petrobras based on a gross daily charter rate of
US$14,000 per day for a period of three years, subject to clearance of the physical inspection of
the vessel at its next discharge port. Under the time charter, Petrobras will be liable for voyage
costs (fuel and port charges) whilst FSL Trust will be responsible for all operational costs of the vessel.
FSL TRUST SECURES A THREE-YEAR TIME CHARTER CONTRACT
why?
Henry$$$ ( Date: 14-Mar-2012 08:35) Posted:
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Time to re-look at this counter.
I hope management will settle this as soon as possible.
PT Berlian Laju have defaulted on their lease payments
First Ship Lease Trust on Tuesday said that it has issued written notice to the three lessees of three chemical tankers who have defaulted on their lease payments under their respective lease agreements in February.
First Ship has demanded payment to be made no later than March 8.
The vessels, Pertiwi, Prita Dewi and Pujawati, were leased to wholly-owned subsidiaries of PT Berlian Laju Tanker Tbk (BLT).
Each lessee is obliged to pay the relevant charter hire due under the relevant lease agreement on the first day of each calendar month, and the obligations of the lessees under the lease agreements are guaranteed by BLT.
The lessees' contribution to FSL Trust's total revenue for FY2011 was 12.8 per cent and the default would have a material impact on the net tangible assets (NTA) per unit of FSL Trust.
Based on the financial statements announced for the year ended December 31, 2011, the NTA per unit is expected to decrease by US$0.03 from US$0.53 to US$0.50.
However, the default will not cause First Ship to be unable to continue to servie the debt obligations under its loan agreement.
shd be 0.001
sarahlkh ( Date: 07-Feb-2012 21:53) Posted:
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dividend is $0.01 so quite good even though the recent plunge is quite unfound?
Wow, someone is indeed shorting this counter. Even when 0.199 has 13 lots, he deliberately sell down 18 lots at 0.198 rather than queue it to sell at 0.199!
look like the katek trying hard to shake weak holders down the tree. Short at 0.21 to bring down the price then cover at 0.2 and 0.199 and deliberately building a artificial sell wall at 0.205 and 0.21.
FSL going below 0.20cts...Kena shot at.
| FSL Trust | XD | 0.210 | 0.199 | -0.011c | -5.2% |
Hunter2011 ( Date: 27-Jan-2012 10:53) Posted:
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