Norway’s Solstad Offshore and John Fredriksen’s SFL Corporation have agreed to terminate the bareboat charter agreements for AHTS vessels Sea Cheetah, Sea Jaguar and Sea Leopard in order for SFL to offload the vessels.
The three vessels have been laid up since 2016, and will now be handed back to SFL during the first quarter of 2020. SFL says it has sold two of the vessels to a third party, while one has been sold for green recycling.
Solstad’s two remaining vessels on bareboat charter from SFL will stay on charter.
In its latest set of results, SFL included a non-cash impairment of $34.1m related to the five vessels.
