First Ship Lease Trust has moved to reduce its debt with the pre-payment of $20m under a syndicated facility.
Singapore-listed FSL Trust, which has been working to refinance debt due at the end of 2017, has added one of its MR products tankers to the loan as additional security.
The ship pledged to the banks is the 46,000-dwt FSL Osaka (built 2007), which the Singaporean owner bought in 2015.
FSL
