First Ship Lease Trust says it is working toward a refinancing of its remaining two chemical tankers after determining that a sale was untenable.
The board of directors of the trustee-manager of the Singapore-listed shipowner said it had been "considering sale or re-financing options" regarding the 20,000-dwt FSL London and FSL New York (both built 2006).
But the weak market for chemical tankers "considers that refinancing should be explored" with bank discussions now occurring.
