Singapore's First Ship Lease Trust (FSL Trust) has increased first quarter profit due to a lack of ship-sale losses compared to 2016.
The net figure to 31 March was $3.4m, against $2.3m the year before.
The tanker and boxship owner's 2016 figure was lowered by a $4m loss on ship sales.
Operating profit was down to $5.55m from $9.08m.
The result was achieved "despite challenging industry conditions" and a 17.7%
