Ship Finance International Ltd announces purchase and lease-back deals with Seadrill Ltd and Golden Ocean Group Ltd

Nordic Business Report, July 3, 2006

NORDIC BUSINESS REPORT-3 July 2006-Ship Finance International Ltd announces purchase and lease-back deals with Seadrill Ltd and Golden Ocean Group Ltd(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

The Norwegian-controlled Bermuda-based company Ship Finance International Ltd (Ship Finance) announced on Monday (3 July) that it has signed purchase and lease-back deals with rig operator Seadrill Ltd and shipping company Golden Ocean Group Ltd.

Ship Finance purchased Seadrill's jack-up drilling rig Seadrill 3 for USD210m and chartered it back to Seadrill on a 15-year agreement.

Ship Finance also purchased the Panamax vessel Rainshadow from Golden Ocean Group and leased it back on a 10-year agreement.

One US dollar (USD) is worth approximately 0.56 British pounds (GBP).

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