John Fredriksen-controlled diversified owner SFL Corporation has agreed to sell two of its ageing chemical tankers and landed a stronger price on its previously reported suezmax disposal.
The New York-listed company has offloaded the 2008-built 17,000 dwt units SFL Elbe and SFL Weser, former Maria Victoria V (pictured) for $19.5m on a debt-free basis.
The ships, which have been trading in the spot market for the last two years, will deliver to an unrelated third party in the second quarter. SFL said it expects to book a sales-related impairment of around $7m in the first quarter.
Meanwhile, last month’s sale of the 2009-built suezmax tanker Glorycrown went better than expected. The sale of the 156,000 dwt ships was initially reported at $39m, with net cash proceeds of around $23m after repayment of associated debt and an accounting gain of some $5m in the first quarter.
However, in its most recent filing, SFL said the final sales price had been around $43.5m, with a book gain of some $9m expected to be recorded in the first quarter.
The owner of tankers, bulkers, container vessels, car carriers and offshore drilling rigs added that the net cash proceeds from disposals of older tonnage would be reinvested in new assets.
