First Ship Lease Trust (FSL Trust) says its decision to exit the bulker sector in 2014 has been vindicated following the collapse in second hand vales.
Writing in FSL Trust’s latest annual report chairman Tim Reid said the board had decided to sell the two vessels as it was concerned about the fundamentals of the dry bulk sector.
In March 2014 FSL Trust offloaded the 46,693-dwt FSL Durban and the Stella Fomalhaut (both built 1999) for a combined $23.55m.
