FSL Trust Management Pte. Ltd. (“FSLTM”), as trustee-manager of First Ship Lease Trust (“FSL Trust” or “the Trust”), announced that the Trust has agreed to employ the vessel FSL Hong Kong (a 115,000 DWT Aframax crude oil tanker), post dry docking, in the Teekay Group (“Teekay”) Revenue Sharing Agreement (RSA).
This agreement continues the Trust’s relationship with Teekay, which started back in 2013.
Teekay was established in 1973, and has developed from being a regional shipping company into one of the world’s largest marine energy, transportation, storage and production companies, with four NYSE listings. Teekay is the world’s largest Aframax owner, and commercially manages over 100 tankers, including Suezmax, Aframax and LR2 vessels.
Roger Woods, Acting Chief Executive Officer of FSLTM, said, “We are very pleased to announce the employment of FSL Hong Kong in the Teekay RSA, strengthening the Trust’s valued relationship with this market leader in the Aframax segment.”