FSL Trust Management, trustee-manager of First Ship Lease Trust, has reached an agreement with James Fisher Everard to extend the bareboat charters for five product tankers.
The negotiations have added $12.3 million ($12.3 million) in contracted future revenue to the trust.
The charters for the product tankers Speciality, Seniority, and Superiority have been extended for periods ranging from five months to four years.
These extensions provide continued employment for the vessels within the James Fisher fleet.
In addition, the trust reached an agreement to remove the termination options from the charters of the Shannon Fisher and Solway Fisher.
This adjustment results in fixed employment for both vessels extending into 2029.
As of June 30, 2025, the trust noted that approximately 100 per cent of its revenue were derived from fixed-rate period charters.
Aside from the newly-announced agreement, its 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.
