First Ship Lease Trust

[holymage]

Looks like FSL debtor, Godan GMBH has taken-over shares from their major shareholders - "Mr Heinrich-Leopold Felix Schoeller" and "Schoeller Investments Limited". What is possibly next? Liquidation of assets?

http://fsltrust.listedcompany.com/newsroom.html

[Nick]

Looks like FSL debtor, Godan GMBH has taken-over shares from their major shareholders - "Mr Heinrich-Leopold Felix Schoeller" and "Schoeller Investments Limited". What is possibly next? Liquidation of assets?

http://fsltrust.listedcompany.com/newsroom.html

Isn't Godan owned by HSH Nordbank which is one of the three shareholders of the Sponsor? Looks more like a restructuring of the Sponsor company.

(Not Vested)

[Nick]

http://fsltrust.listedcompany.com/newsro...QII8.1.pdf

As expected, FSLT has divested its 2 container vessels for US$10.8 million. This marks the end of the lucrative US$10-11 million bareboat charter to Evergreen. The sales proceed is being used to repay debt and this will reduce the quarterly loan amortization by US$0.32 million. Combined with the income from the newly acquired vessel and positive reversion of time charters in 2015, it should help buffer the loss of distributable income.

While the product tanker market is soaring, FSLT vessels are largely on short term charters so there are revenue risk. I suspect dividends might be resumed this year if the tanker market does not plunge.

(Not Vested)

[Greenrookie]

http://fsltrust.listedcompany.com/newsro...QII8.1.pdf

As expected, FSLT has divested its 2 container vessels for US$10.8 million. This marks the end of the lucrative US$10-11 million bareboat charter to Evergreen. The sales proceed is being used to repay debt and this will reduce the quarterly loan amortization by US$0.32 million. Combined with the income from the newly acquired vessel and positive reversion of time charters in 2015, it should help buffer the loss of distributable income.

While the product tanker market is soaring, FSLT vessels are largely on short term charters so there are revenue risk. I suspect dividends might be resumed this year if the tanker market does not plunge.

(Not Vested)

MR tanker rate is about 18 k now, if the rate at Hellenic website is accurate, 3 year rate is about 16500, what they propose when they bought the new tanker, I wonder why they do not want to lock in the charters.

I hope they are not over confident.

I holding out for resumption of dividends. And hope it provide the catalyst for the market price

Vested

[Nick]

I suspect they believe charter rates is on the uptrend so they are waiting to lock in at a good rate. If they are wrong, the short charter profile of 1-2 years will hurt the Trust earnings after 2017. However, unlike before, their debt situation isn't as dire so that gives them a little more flexibility.

(Not Vested)

[krowten]

May I know which are the best websites to find out chart rates?

[Greenrookie]

Hellenics shipping news

Gibson give monthly report.

Alibra give weekly rates

[krowten]

Hellenics shipping news

Gibson give monthly report.

Alibra give weekly rates

Dear Greenrookie,
Thank you. I appreciate it.

[Nick]

http://teekay.com/investors/teekay-tanke...-insights/

This is pretty decent too. There are some weakness in the LR2 market rates.

(Not Vested)

[Greenrookie]

FY results out. No dividends... Sigh

They could pay 3 cents with their distributable income ... But choose not to.

Acquistion coming?