Nothing much has been happening to FSL Trust lately although its unit price has suffered from weakness. I suspect that the weakness of the US$ and the shipping sector as a whole could have been a dampener.
The latest news is an acquisition of a “Long Range II (LR2) product tanker from TORM Singapore, a wholly-owned subsidiary of TORM A/S for US$46 million ($56.7 million)…. The transaction will be immediately cash flow accretive to the trust and will increase the trust’s total remaining contracted revenue to US$602 million, excluding extension options. The average remaining lease term of the trust’s portfolio will also remain at the current 6.8 years.”
Will this be a positive catalyst enough to send its unit price higher?