Ship Finance International Limited to buy 7 containerships with long-term charters

By Finance

Ship Finance International Limited informed for its plans to acquire 7 4,100 TEU containerships built 12 years ago. In the deal is included long-term charters to a big container line operator. SFL expects the delivery of the ships in the next few weeks. The charters include an option of purchase with profit share after a 5.4 years period on average. 

The CEO of Ship Finance Management AS announced that this transaction is coming from the German KG market. Details and the exact terms of the deal are not revealed to the public. The price of the vessels is also hidden. He said:

"We have monitored the German market closely after the financial crisis that started in 2008/2009, but there have been relatively few transactions so far where we have seen a combination of quality assets, attractive prices and long-term chartering opportunities."

Ship Finance is one of the biggest ship owning companies in the world and is listed on the New York Stock Exchange (NYSE: SFL). The company is known for owning a fleet of 71 different types of vessels: including crude oil tankers (VLCC and Suezmax), chemical tankers, drybulk carriers, container vessels, car carriers, offshore supply vessels, jack-up drilling rigs, ultra-deepwater semi-submersible drilling rigs and an ultra-deepwater drillship. 

SFL has one of the largest fleets in the world. Many of the vessels are on a long-term charters.