The manager of First Ship Lease Trust (FSL Trust) has declared distribution per unit (DPU) of 2 US cents (2.65 cents) for the 1QFY2021 ended March, 33.3% higher than DPU of 1.50 US cents in the year before.

Profit for the quarter plunged 95% y-o-y at US$336,000, reflecting reduced earnings following a decline in freight rates for the tankers operating in pools, the maturity of the charters for three containerships in 2020 and the lower number of vessels in the fleet of FSL Trust compared to the year before.

Earnings per unit in the 1QFY2021 stood at 0.02 US cents, from 0.38 US cents in the year before.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook