Eleven days ago Germany's HSH Nordbank sold FSL Holding, the holding company of FSL Trust, to an affiliate of Greek shipowner Prime Tanker Management. On Friday, Prime moved to install its own management at the Asian company.
Stathis Topouzoglou has replaced Tim Reid as chairman of the board. Reid had held a non executive position at struggling FSL Trust since June 2013. Also of note, Michail Chalkias, who cofounded Prime with Topouzoglou, has been appointed as non executive director at FSL Trust.
FSL currently has a fleet of 19 vessels, made up of three containerships and 16 tankers in various segments.