SFL Adds Two More Bulk Carriers

Ship Finance International Limited has reached an agreement to acquire two 82,000 dwt Kamsarmax dry-bulk carriers built in 2012, in combination with long-term time-charters to a state-owned Chinese charterer.

The vessels are expected to be delivered to SFL within the next two months, and the aggregate annual EBITDA contribution from the vessels is estimated to approximately $7 million on average during the 8-year charter period.

The company also announced long-term time-charters for four 8,700 teu newbuilding container vessels, currently under construction in Korea.

The charterer will be a large, European-based container line, and the charter period will be seven years from delivery of each vessel. The estimated annual EBITDA contribution from the vessels is approximately $46 million in aggregate.

Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: “The container vessels under construction are currently ahead of schedule, and the charter-rate is reflective of the very high specifications including the latest in eco-design features.”

[mappress]
Press Release, May 23, 2014; Image: SFL