FSL Trust’s net profit up 21% in H1

Earnings were stable, with one vessel disposed of during the period.

First Ship Lease Trust (FSL Trust) has reported a net profit of SG$2.19m (US$ 1.7m) in the first half of 2025, up 21% from the same period last year.

According to FSL Trust Management Pte. Ltd., the trustee-manager of FSL Trust, the previous six months’ net profit included SG$903,000 (US$ 700,000) gain on the disposal of vessels

The adjusted earnings before interest, taxes, depreciation, and amortisation for the first half year was SG$2.58m (US$ 2m).

As at 30 June, with 6 vessels operating under fixed-rate period charters, FSL Trust has contracted future revenue of up to SG$17.41m (US$ 13.5m), including SG$9.93m (US$ 7.7m) of firm contracted revenue and SG$7.48m (US$ 5.8m) of optional contracted revenue.

The Trust made a voluntary prepayment of SG$3.22m (US$ 2.5m) to reduce the outstanding loan during H1.

US$1 = SG$1.29