First Ship Lease Trust reports 1H 2025 net profit of $1.7m

First Ship Lease Trust (FSL Trust) has reported a net profit of $1.7 million for the six months ended June 30, 2025, a slight increase from the $1.4 million profit recorded in the same period of the preceding year. The result included a $0.7 million gain on the disposal of one vessel.

The Singapore-based tanker owner announced its unaudited financial results on August 5, reporting an adjusted EBITDA of $2 million for the first half of the year. The company's six remaining vessels are all employed under fixed-rate period charters.

As of June 30, 2025, the trust's contracted future revenue stood at up to $13.5 million, which includes $7.7 million of firm contracted revenue and $5.8 million of optional contracted revenue. During the first half of the year, the trust also made a voluntary loan prepayment of $2.5 million to reduce its outstanding debt.

Roger Woods, Chief Executive Officer of FSL Trust, confirmed that the trust’s earnings have been stable and that one vessel was disposed of during the period. Stathis Topouzoglou, Chairman of the Board, added that the company remains focused on assessing new project opportunities and that as asset prices soften, it anticipates the risk and reward profile will become more balanced.