Ship Finance International acquires three mega containerships

Ship Finance International acquires three mega containerships

John Fredriksen’s Ship Finance International (SFI) has entered into an agreement to acquire three large container vessels in combination with long term time charters.

The three 2015-built vessels have a carrying capacity of 10,600 teu each. SFI expects to take delivery of the vessels in the near term.

The ships will be chartered to an undisclosed containerline for a period of minimum six years, with options for the charterer to extend up to 10 years. There is also a purchase option with profit split at the end of the initial six-year period.

SFI has received an offer for a $200m intermediary bank financing to part-finance the acquisition of these vessels and it expects to arrange a long term financing in due course.

“This acquisition highlights our strength and ability to achieve sustained growth through repeat transactions with the world’s largest liner companies. We have firmly established ourselves as a quality operator of vessels, and our financial flexibility enables us execute swiftly on new transactions. Over the last five months we have added more than $800 million to our charter backlog and expect to continue increasing our fleet of vessels and charter backlog in 2018,” said Ole Hjertaker, CEO of Ship Finance Management.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts