John Fredricksen’s Ship Finance International (SFL) has announced that it has agreed to sell the 1999-built anchor handling tug supply vessel Sea Bear to an unrelated third party.
to an unrelated third party.SFL has also agreed to terminate the corresponding charter party with a subsidiary of Deep Sea Supply, and the vessel is expected to be delivered to the new owner in the first quarter of 2016.
The company will receive about $20m as a combination of cash sales proceeds and amortizing notes from Deep Sea Supply as compensation for the cancellation of the charter. SFL said it expects to record an impairment of approximately $8m in the fourth quarter 2015 related to the sale.
Ship Finance International said the deal is a part of the company’s strategy to renew and diversify its OSV fleet which will number five vessels after the sale, all on long term charters to Deep Sea Supply.
