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Latest Forum Topics / FSL Trust    Last:0.043 --  Post Reply
FSL Trust - starting to see value in it
dingbat
Senior
22-Nov-2013 15:57     
 
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 Alert Admin 		Pending announcement to clarify lenders' position in relation to a covenant waiver or relaxation for 30 September 2013
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dingbat
Senior
22-Nov-2013 15:53     
 
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 Alert Admin

Another suspension. Anyone with any idea what's happening to this ghost ship...
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Dclas0827
Member
12-Nov-2013 14:01     
 
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 Alert Admin 		Sinking ships, still no hope of issuing dividends after the suspension from 30th June.
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Dividend_Warrior
Senior
17-Sep-2013 21:42     
 
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Yells: "I am getting $1100 per month in dividends :)"
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 Alert Admin

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust) announces that the lessee of its two dry bulk carriers, OMNI Ships Pte. Ltd. (OMNI Ships), has defaulted on its lease payments. Today, FSLTM issued a notice to OMNI Ships for the redelivery of its two dry bulk carriers, namely Stella Fomalhaut and Stella Eltanin.

During the first quarter of 2013, FSLTM concluded restructuring discussions with OMNI Ships, which included a reduction in bareboat charter rates for the two dry bulk carriers. Despite the restructured terms, OMNI Ships failed to pay FSL Trust the charter hires due.

Stella Fomalhaut and Stella Eltanin are currently employed under short-term sub-time charter contracts and FSLTM has agreed with the sub-time charterers to continue the contracts directly with FSL Trust. FSLTM is actively looking for suitable employment for the vessels after their current contracts expire.
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jng1103
Senior
04-Sep-2013 16:41     
 
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 Alert Admin
Aug 27, 2013

 

Appointment Details
Date of Appointment27/08/2013
NameALAN HATTON
Age35
Country of principal residenceSingapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)The Board of FSL Trust Management Pte. Ltd. has appointed Mr Alan Hatton to be the CEO of the Trust.
Whether appointment is executive, and if so, area of responsibilityExecutive - CEO
Job TitleChief Executive Officer
Working experience and occupation(s) during the past 10 yearsFR8 Holdings Pte Ltd - CEO 2008 - Present CFO 2007 - 2008
Lazard & Co Ltd - Investment Banker 2005 - 2007
Dresdner Kleinwort, London - Investment Banker 2002 - 2005
Interest in the listed issuer and its subsidiariesNIL
Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiariesNIL
Conflict of interestNIL
Other Directorship
Past (for the last five years)Please refer to the attachment - List of Past and Present Directorships.
PresentPlease refer to the attachment - List of Past and Present Directorships.
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Dividend_Warrior
Senior
20-Aug-2013 23:48     
 
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Yells: "I am getting $1100 per month in dividends :)"
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 Alert Admin 		Run away as fast as you can!!!!!

tsc3024      ( Date: 06-Aug-2013 14:21) Posted:

Now trading at far below NAV, so long it remains alive, may be time to pick up some.
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Dclas0827
Member
07-Aug-2013 09:37     
 
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 Alert Admin 		Sinking ship. I thought the dividends suspend to 30 June will bear some positive news. Instead, the management just " change" , Hopefully this trusts can regain investors confidence soon.
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tsc3024
Member
06-Aug-2013 14:21     
 
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 Alert Admin 		Now trading at far below NAV, so long it remains alive, may be time to pick up some.
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dingbat
Senior
01-Aug-2013 13:37     
 
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 Alert Admin 		Fingers crossed new management will reverse things.
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CraigFoo
Member
01-Aug-2013 08:54     
 
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 Alert Admin 		FSL no longer suspended. New board formed.
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commando
Veteran
08-Jul-2013 13:44     
 
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 Alert Admin 		I think company still got cash...just tat change management staff need to sus...will still hold Bo Bian cos alr very low
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dingbat
Senior
08-Jul-2013 11:11     
 
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 Alert Admin 		Called up FSL just now to enquire about any news, at least someone picked up unlike last week when they didn't even want to answer. No news yet on any outcome. Maybe best for all  if they delist at the present value than relist and have it plunge to naught.
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jng1103
Senior
05-Jul-2013 14:02     
 
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 Alert Admin 		Running out of money liao...???  Smiley
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Dividend_Warrior
Senior
04-Jul-2013 17:33     
 
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Yells: "I am getting $1100 per month in dividends :)"
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 Alert Admin 		He quits.....together with the CEO and CFO

jackson5      ( Date: 04-Jul-2013 17:13) Posted:

Senior lawyer Wong Meng Meng is the Chairman and he is sleeping ?
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jackson5
Member
04-Jul-2013 17:13     
 
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 Alert Admin 		Senior lawyer Wong Meng Meng is the Chairman and he is sleeping ?
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commando
Veteran
04-Jul-2013 10:59     
 
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 Alert Admin 		Hold for many years
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tanzq83
Member
04-Jul-2013 10:39     
 
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 Alert Admin 		Hope the new management can bring a new lease of life to the company.. Dont give up!! It's a decent company afterall, just that shipping industry is generally very bad recently..

dingbat      ( Date: 04-Jul-2013 09:46) Posted:



Cry got use or not. Bought 200 lots back when it was 56 cents. Looked like it was an established coy. Maybe there were warning signs but too  blind to see. No one pick up phone at the company just now.  Will gov step in o intervene....
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dingbat
Senior
04-Jul-2013 10:11     
 
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sorry, should be the Oaktree advisers, not Oakwell Trust. At least they release some news even if it's just gobbledygook abt how all the insiders oredy knew of the impending doom but misguided gullible shareholders like moi abt the bank loan approval. sigh...

dingbat      ( Date: 04-Jul-2013 09:55) Posted:



Oakwell Trust now handling it but their staff inform me they know nothing until board of directors release news on Mon,  directed me back to the FSL contact except no one pick up.
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Dividend_Warrior
Senior
04-Jul-2013 09:57     
 
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Yells: "I am getting $1100 per month in dividends :)"
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News out liao......

Admin cock-up. Management is a real mess.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E1BB1778436F1C6848257B9E0005AD8B/%24file/Announcement_Clarification_on_Extension_on_Covenants_Relaxation.pdf?openelement

 

 
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ynnek1267
Master
04-Jul-2013 09:56     
 
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 Alert Admin 		don't greedy with the dividend from trust. At the end, you will vomit out more.

dingbat      ( Date: 04-Jul-2013 09:46) Posted:



Cry got use or not. Bought 200 lots back when it was 56 cents. Looked like it was an established coy. Maybe there were warning signs but too  blind to see. No one pick up phone at the company just now.  Will gov step in o intervene....
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