SFL - Acquisition of three 9,000 TEU containerships in combination with long-term charters
(Thomson Reuters ONE) -
Press release from Ship Finance International Limited, June 15, 2015.
Ship Finance International Limited (NYSE: SFL) ("Ship Finance" or the "Company")
today announced the agreement to acquire three containerships from an unrelated
third party.
The vessels are currently under construction and are expected to be delivered to
Ship Finance between 4Q 2015 and 1Q 2016, subject to customary closing
conditions and approval by the charterer. The vessels have similar technical
specifications as our recently delivered 8,700 TEU container vessels, with the
latest in eco-design features giving them a very competitive operational
performance.
The vessels have been chartered out for a minimum period of five years to a
leading European-based container line, with options to extend the charter period
by up to two years. Our charter backlog will increase by approximately $200
million and the aggregate annual EBITDA contribution from the vessels is
estimated to more than $30 million on average during the five year firm period
of the charter. The Company will arrange financing for the vessels in due
course.
Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "We are
very pleased to further grow our presence in the containership segment with
these state-of-the-art vessels, and at the same time expand our chartering
counterparties with one of the leading container lines. Our charter backlog and
long-term distribution capacity is building in an accretive manner, and there is
still significant capacity for more investments without raising additional
equity capital."
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda
Questions can be directed to Ship Finance Management AS:
Harald Gurvin, Chief Financial Officer: +47 23114009
Andre Reppen, Senior Vice President: +47 23114055
About Ship Finance
Ship Finance is a major ship owning company listed on the New York Stock
Exchange (NYSE: SFL). Including the new acquisitions, the Company will have a
fleet of 75 vessels, including 19 crude oil tankers (VLCC and Suezmax), two
chemical tankers, 22 dry-bulk carriers (including 8 acquisitions), 17 container
vessels (including 3 acquisitions), two car carriers, six offshore supply
vessels, two jack-up drilling rigs and two ultra-deepwater semi-submersible
drilling rigs. The fleet is one of the largest in the world and most of the
vessels are employed on long-term charters.
More information can be found on the Company''s website: www.shipfinance.org
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.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ship Finance International Limited via GlobeNewswire
[HUG#1928403]
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Datum: 15.06.2015 - 06:19 Uhr
Sprache: Deutsch
News-ID 1365932
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