Singapore tanker owner First Ship Lease Trust (FSL Trust) has posted a much smaller loss in the third quarter as costs fell.
The company said the net deficit to 30 September was $2.08m against $21.65m in the same period of 2017.
Revenue was down 20% at $15m, primarily due to ongoing rate pressures across all shipping markets, a reduction in its fleet and time lost due to post re-delivery repairs of two LR2s.
