SFL Buys Two 19,400 TEU Boxships

ContainershipIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Bermuda-based shipowner Ship Finance International Limited has acquired two 2016-built 19,400 TEU container vessels and contracted the vessels until late 2033 to an unnamed container line on long term bareboat charters.

The contracts increase the company’s fixed rate charter backlog by nearly USD 470 million, and the charterer has agreed to purchase obligations at the end of the charter period, the company said.

“This new acquisition broadens our relationship with one of the world’s largest liner companies. Over the last nine months we have added more than USD 1.2 billion to our charter backlog in a series of accretive acquisitions,” Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment.

“In this case, our equity investment is limited to approximately USD 15 million per vessels as we have secured non-recourse lease financing with a tenure matching the charter period. We believe that our strong balance sheet and ability to source attractively priced capital will allow us to continue to grow our charter backlog and cash flow visibility going forward.”

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >