Post Reply
61-80 of 210
This one reverse play. Everyone expect it to go up it goes down. Now the opp is happening....
What would be the end game for this guy?
Keep selling away the ships, how to grow? One day no ship left?
Keep selling away the ships, how to grow? One day no ship left?
Payment Date : 10 December 2021
Books closure date : The Transfer Books and Register of Unitholders of FSL Trust will be closed at 5.00 p.m. on 10 November for the purposes of determining each unitholder&rsquo s entitlement to the Distribution of US1.50 cents per unit. Unitholders whose securities accounts with The Central Depository (Pte) Limited (&ldquo CDP&rdquo ) are credited with units at 5.00 p.m. on 10 November will be entitled to the Distribution to be paid on 10 December 2021.
Fort those interested
Books closure date : The Transfer Books and Register of Unitholders of FSL Trust will be closed at 5.00 p.m. on 10 November for the purposes of determining each unitholder&rsquo s entitlement to the Distribution of US1.50 cents per unit. Unitholders whose securities accounts with The Central Depository (Pte) Limited (&ldquo CDP&rdquo ) are credited with units at 5.00 p.m. on 10 November will be entitled to the Distribution to be paid on 10 December 2021.
Fort those interested
SmallSmall ( Date: 02-Nov-2021 09:03) Posted:
|
FSL Trust distributes 1.5 US cents per unit for the 3 rd quarter 2021 Highlights
Distribution to unitholders of 1.50 US cents per unit for the 3rd quarter 2021
Adjusted EBITDA1 of c.US$ 0.6 million and net loss of c.US$ 2.5 million, after US$ 2.0 million of non-cash impairments, for the 3 rd quarter 2021
Acquisition of one vessel (Pelican Fisher) with an 8-year bareboat charter and new c.US$ 4.0 million loan which was closed post quarter-end
Contracted revenue increased to US$ 29.8 million as at 30 September 2021 with 8 out of 11 vessels employed on fixed-rate period charters
Strong liquidity position and zero net interest-bearing debt
Distribution to unitholders of 1.50 US cents per unit for the 3rd quarter 2021
Adjusted EBITDA1 of c.US$ 0.6 million and net loss of c.US$ 2.5 million, after US$ 2.0 million of non-cash impairments, for the 3 rd quarter 2021
Acquisition of one vessel (Pelican Fisher) with an 8-year bareboat charter and new c.US$ 4.0 million loan which was closed post quarter-end
Contracted revenue increased to US$ 29.8 million as at 30 September 2021 with 8 out of 11 vessels employed on fixed-rate period charters
Strong liquidity position and zero net interest-bearing debt
First Ship Lease Trust to sell Chemical Tanker
The trustee-manager of First Ship Lease Trust (FSL Trust) on Tuesday announced that a wholly owned subsidiary of the trust has agreed to sell a chemical tanker to an unaffiliated third party.
The FSL Trust unit has entered into a memorandum of agreement to sell the vessel, FSL London, and has received the initial 10 per cent deposit in escrow, the trustee-manager said in a bourse filing.
FSL London was built in 2006 and has a carrying capacity of 19,966 dwt (deadweight tonnage).
FSL to sell one chemical tanker
The manager of First Ship Lease Trust (FSL) has agreed to sell one 19,970 DWT chemical tanker on Aug 30.The trust' s wholly-owned subsidiary, FSL-9, has entered into a memorandum of agreement to sell the vessel FSL New York to an unaffiliated third party.
The trust has already received the initial 10% deposit in escrow.
The vessel was built at Usuki Shipyard in Japan in 2006 and has most recently been trading in the spot market.
Units in FSL closed 0.1 cent lower or 1.27% down at 7.8 cents on Aug 30.
just saw this... if NAV at $0.07, is this fully priced already?
after sold vessels, will have less recurring income?
the market looks really thin to take a position..
after sold vessels, will have less recurring income?
the market looks really thin to take a position..
Thursday last cum Dividene date for US $ 0.02
Buy cum sell ex ?
Buy cum sell ex ?
SmallSmall ( Date: 26-Apr-2021 09:52) Posted:
|
This one has got to be the best dividend plays on SGX
US$0.02 div
NAV US$0.07
NAV US$0.07
Konstantinos Courcoubetis selling
SGX RegCo orders FSL Trust to seek unitholders' approval for vessel sale
THE Singapore Exchange Regulation (SGX RegCo) has ordered First Ship Lease Trust (FSL Trust) to seek unitholders' approval for a sale of two product tanker newbuildings.
FSL Trust had announced on March 1 that it had completed the sale of the two vessels, realising a total net gain of about US$500,000 and total sale proceeds of US$103.8 million. It did not seek unitholders' approval as it deemed the sale to be in the ordinary course of business.
However, SGX RegCo has ordered an undertaking from FSL Trust' s sponsor not to dispose of its units in the trust until an extraordinary general meeting seeking unitholders' approval has been conducted, among other directives.
In a letter published in full by FSL Trust on Wednesday, SGX RegCo said it is believes that the sale of the vessels would constitute " short-term trading" , which would go against FSL Trust' s main objective of deriving a stable income stream from its portfolio of lease assets, as stated in the trust' s initial public offering prospectus.
The regulator noted that the vessels were sold " immediately" upon the completion of construction, " even before deployment by the trust" .
SGX RegCo also pointed out that FSL Trust had completed a three-for-two rights issue to raise net proceeds of US$31 million to finance the acquisition of the vessels, and had apparently stated that the net proceeds of the rights issue would be used, among others, for " fleet renewal by way of the newbuilding acquisition" .
" Clearly, the disposal of the two new vessels deviates from the original objectives of the acquisition and rights issue, which was to renew the trust' s ageing fleet," said SGX RegCo.
And, even if the Covid-19 pandemic has affected the earnings prospects for the tankers in the short term, it does not change the basis of determining whether transactions are in the ordinary course of business, the regulator noted.
In response, FSL Trust Management, the trustee-manager of FSL Trust, said it remains of the view that the disposal, " as well as the other disposals recently announced and future disposals" , was made in the ordinary course of business.
Firstly, it noted that the definition of authorised businesses in the deed of trust constituting FSL includes the disposal of vessels.
Also, keeping the vessels, which were " reasonably expected" to create losses as a result of the pandemic, would have run counter to FSL Trust' s objective of generating stable income, the trustee-manager said. Disposing them for an " extraordinarily high" price in the current market environment was therefore in the best interest of all unitholders.
However, the trustee-manager said that it will comply with SGX RegCo' s directives nevertheless. Among others, it has submitted a written undertaking from FSL Trust to SGX RegCo that it will seek unitholders' ratification of the sale by April 30.
How much profit made is not so important, i think it' s the cash inflow thats more important.
How much dividend to give out have to wait already. Why so kan jiong?
How much dividend to give out have to wait already. Why so kan jiong?
Why never state clearly what is the profit made ?
How much dividend to give out?
How much dividend to give out?
chinton86 ( Date: 21-Feb-2021 10:39) Posted:
|
Isn' t it great for investor/unit holders that they do the sale? IMHO i think it' s great. 1 shot collect back all the cash flow .
FSL Trust defends sale of vessels for US$52.5m each to Libyan state-owned firm' s nominees
THE trustee-manager of First Ship Lease (FSL) Trust has cited weaker earnings prospects as the rationale for its decision to sell two LR2 product tankers, in response to queries from the Singapore Exchange (SGX).
The trustee-manager also revealed that the FSL Trust is selling each vessel at US$52.5 million to nominees of a Libyan state-owned shipping firm. FSL Trust had paid US$97.6 million in total for the construction of the vessels, as disclosed in 2018.
In a Friday bourse filing after the market close, FSL Trust' s manager said that SGX had raised questions over the reasons behind the firm' s Feb 17 announcement regarding the sale of the two vessels. Back in December 2018, FSL Trust had said that it was acquiring those vessels to renew its ageing fleet, SGX noted in its query.
In response, FSL Trust' s trustee-manager said that the earnings prospects for LR2 product tankers have " fundamentally weakened" in the short term due to the adverse impact of the pandemic on the oil and oil products trade. Its medium- to long-term prospects are also affected by the transition to carbon-neutral, cleaner fuels.
" The next generation of vessels will likely use alternative fuels to reduce greenhouse gas emissions and meet environmental targets and the trust intends to prioritise such considerations in the future strategy. The trustee-manager has therefore concluded that it is beneficial to the trust to sell the newbuildings and limit the exposure to the current market and regulatory risks," it said in the filing.
The trustee-manager also disclosed that the agreed selling price was US$52.5 million per vessel. Back in 2018, FSL Trust had disclosed that the vessel acquisition amounted to US$97.6 million. The carrying value of both vessels in aggregate as of end-2020 was US$43.6 million.
It also unveiled the buyers as being guaranteed nominees of General National Maritime Transport Company, a state-owned Libyan shipping company.
FSL Trust' s trustee-manager said that the following factors influenced the selling price: the cost of building the vessels the current and expected charter market environment and earnings prospects for the vessels and the expected economic lives and residual values.
Other factors included the supply of and demand for comparable vessels and potential prices otherwise achievable for the vessels in the current market. FSL Trust received advice from a third party ship-broker during the negotiations for the sale.
i bought both. Though just small investment. FSl sold two new ships at sky price sia.
was thinking to buy samudera or FSL since freight rate are all time 15 years high
dcools ( Date: 05-Jan-2021 00:16) Posted:
|
with high freight rate since 4q fsl likely to pay qtrly dividend In 4q20.
investshare ( Date: 04-Jan-2021 22:31) Posted:
|
I think difficult, may need to conserve cash.
investshare ( Date: 04-Jan-2021 22:31) Posted:
|