First Ship Lease Trust (FSL Trust) has seen its first quarter net profit cut by 55% on the back of losses related to vessel disposals.
The Alan Hatton-led company suffered a loss of $4.1m from the sale of two elderly panamax containerships in February 2016.
The tanker and containership operator said net income was $2.2m versus the $5m achieved in the first three months of 2015.
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