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06-02-2016, 04:54 PM
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)
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)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.