First Ship Lease Trust posted reduced net losses on an annual basis. Specifically, in 2018 the company reported USD 18.9 million net loss, a cut of 74.3% compared to a net loss of USD 73.8 million seen a year earlier.
In the fourth quarter of 2018, FSL’s net loss stood at USD 18.5 million, against a net loss of USD 33.8 million reported in the same period in 2017.
Impairment charges for the quarter, and the full year, were at USD 20.6 million.
FSL generated revenue of USD 18.5 million for the fourth quarter of 2018 and USD 67 million for the full year, a 6.8% and 17.7% decline compared to the same period a year ago, respectively.