SFL - Acquisition of two 19,400 TEU container vessels
31 Décembre 2018 - 1:01PM
Ship Finance International Limited (NYSE: SFL)
("Ship Finance" or the "Company") announces that it has acquired
two 2016-built 19,400 TEU container vessels and contracted the
vessels until late 2033, or for nearly 15 years, to a leading
container line on long term bareboat charters. The contracts
increase the Company's fixed rate charter backlog by nearly $470
million, and the charterer has agreed to purchase obligations at
the end of the charter period, effectively eliminating residual
risk.
Ole B. Hjertaker, CEO of Ship Finance Management
AS, said in a comment: "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 $1.2 billion to our
charter backlog in a series of accretive acquisitions. In this
case, our equity investment is limited to approximately $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."
December 31, 2018
The Board of DirectorsShip Finance International
LimitedHamilton, Bermuda
Questions can be directed to Ship Finance
Management AS:
Investor and Analyst Contacts: Harald
Gurvin, Chief Financial Officer, Ship Finance Management AS +47 23
11 40 09 André Reppen, Senior Vice President, Ship Finance
Management AS +47 23 11 40 55
Media Contact: Ole B. Hjertaker, Chief
Executive Officer, Ship Finance Management AS +47 23 11 40 11
About Ship Finance
Ship Finance International Limited (NYSE: SFL)
has a unique track record in the maritime industry, being
consistently profitable and paying dividends every quarter since
2004. The Company's fleet of more than 80 vessels is split between
tankers, bulkers, container vessels and offshore assets, and Ship
Finance's long term distribution capacity is supported by a
portfolio of long term charters and significant growth in the asset
base over time. More information can be found on the Company's
website: www.shipfinance.bm
Cautionary Statement Regarding Forward
Looking Statements
This press release may contain forward looking
statements. These statements are based upon various assumptions,
many of which are based, in turn, upon further assumptions,
including Ship Finance management's examination of historical
operating trends. Although Ship Finance believes that these
assumptions were reasonable when made, because assumptions are
inherently subject to significant uncertainties and contingencies
which are difficult or impossible to predict and are beyond its
control, Ship Finance cannot give assurance that it will achieve or
accomplish these expectations, beliefs or intentions. Important
factors that, in the Company's view, could cause actual results to
differ materially from those discussed in this presentation include
the strength of world economies and currencies, general market
conditions including fluctuations in charter hire rates and vessel
values, changes in demand in the tanker market as a result of
changes in OPEC's petroleum production levels and worldwide oil
consumption and storage, changes in the Company's operating
expenses including bunker prices, dry-docking and insurance costs,
changes in governmental rules and regulations or actions taken by
regulatory authorities, potential liability from pending or future
litigation, general domestic and international political
conditions, potential disruption of shipping routes due to
accidents or political events, and other important factors
described from time to time in the reports filed by the Company
with the United States Securities and Exchange Commission.
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