FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, refers to the earlier announcement1 made on 5 July 2013 and wishes to provide an update.

FSL Trust has successfully taken redelivery of its second crude oil tanker, Action, previously leased to the subsidiary of Geden Holdings Ltd. The vessel will be renamed FSL Shanghai and will operate under the technical management of Thome Ship Management Pte. Ltd. and commercial management of Teekay Chartering Limited. FSLTM is currently in negotiations to secure time charter employment for FSL Shanghai.

As an update, FSL Hong Kong which was redelivered on 4 July 2013, will commence its first voyage charter in the spot market this week.