Singapore-listed First Ship Lease Trust (FSL Trust) has realised a net gain of $2.92m from selling its 12,900-dwt chemical tanker Cumbrian Fisher (built 2004).

The unnamed buyer paid $7.15m for the tanker, a figure which was arrived at after “arm’s lengths negotiations”, the company said in an SGX announcement on Wednesday.

Although valued by online platform VesselsValue at around $9m, the ship is due for dry-docking and its fourth special survey this month, which is likely to have influenced the sale price.