FSL Trust Management Pte. Ltd., the trustee-manager of First Ship Lease Trust, a Singapore-based shipping business trust established in 2007, has agreed a package of charter extensions with James Fisher Everard Ltd.

FSL said it has reached an agreement with James Fisher Everard Ltd. to extend the charters for the product tankers Speciality, Seniority and Superiority for periods from five months up to four years.

In addition, agreement has been reached for the options to terminate to be removed from the charters of Shannon Fisher and Solway Fisher, resulting in fixed employment into 2029.

In accordance with the company, the conclusion of the combined negotiations has added $12.3m of contracted future revenue.

“The Trust will continue to enter into longer-term contracts with strong counterparties to manage the performance of the Trust, providing stable income, when the right market opportunities arise,” the company’s statement reads.

First Ship Lease Trust (FSL Trust), which owns a diversified fleet of product tankers, has a vessel portfolio of six tankers of different sizes.