First Ship Lease Trust

(27-04-2017, 10:28 AM)Boon Wrote: From page 88 of AR2015:
 
Lease term+ extension = 10 year + 5 years + 5 years (commencing 1 June 2007)
 
From years 1 to 5, the daily bareboat charter rate of USD4,100 was applied for Speciality, Seniority and Superiority ; from years 6 to 10, the daily bareboat charter rate is USD4,500. 
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I presume this is the old agreement. I think it is unlikely for the new agreement to fetch such rates.

The footnote of pg 88 & 89 has details of the BBC's. Revenue in the 15th and 20th years period

(27-04-2017, 02:47 PM)CY09 Wrote: The footnote of pg 88 & 89 has details of the BBC's. Revenue in the 15th and 20th years period

1st 5 years = USD 4,100 per day
2nd 5 years =USD 4,500 per day
3rd 5 years = USD 3,600 per day ( Reduction in BBCE revenue of ~ USD 1 m per year for the 3 vessels over the next 5 years.
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Trading Halt, what's happening?

http://infopub.sgx.com/FileOpen/20170428...eID=451237

In the end, the enhanced rights issue will proceed as planned.

One thing good the trust has now released the BBCE per ship in their AGM slides. I wonder is it because they are reading this thread and decided to help us dissect the cash flow generation in an easier way (page 10)

http://infopub.sgx.com/FileOpen/20170428...eID=451238

Using the slides, we can estimate the breakdown of BBCE as follows:

Containership: 20.8mil
Specialized Tanker : 8.2mil
Chemical Tanker : 8.4mil
MR Tanker: 9 mil
Afra: 6.5mil
feeder: 1 mil
LR: 10 mil

Anyone have view on this? It seem that Navios will accquire fsl share at 8+cents from fsl TM. And the best part is they will provide 20mil as repayment of loans and get 51% of shareholding. Lastly, rights to suck all the unitholders.

To be exact, its: Pay approx 18 cents per share to current Trust Mgmr to get controlling stake and the rights to extract profits by managing the trust. Then get the rights to dilute existing shareholder by paying only 8.47 cents per share.

IMO, it seems FSL really needs Navios to help it. The very same company which raided Rickmers for its fleet

Cash is King

no whitewash waiver no deal...aka no offer.

(28-04-2017, 08:36 PM)CY09 Wrote: To be exact, its: Pay approx 18 cents per share to current Trust Mgmr to get controlling stake and the rights to extract profits by managing the trust. Then get the rights to dilute existing shareholder by paying only 8.47 cents per share.

IMO, it seems FSL really needs Navios to help it. The very same company which raided Rickmers for its fleet

Please enlighten on the ..........paying 8.47 cents per share.  How do you derive the 8.47 cents per shares.