Ship lessor plans U.S. listing

Singapore-based ship leasing company First Ship Lease Trust is seeking to have its securities traded in the United States.

FSL Trust Management Pte. Ltd., trustee-manager of the company, said it had filed a registration statement with the U.S. Securities and Exchange Commission to establish an American Depository Receipt program. ADRs would be traded on the OTCQX market.

FSL plans to close on a third ship lease with Yang Ming vessel by the end October, which will give it a 23-vessel fleet, comprising seven containerships, nine product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers.