Business Services Industry
Ship Finance International Ltd sells two Suezmax tankers
Nordic Business Report, Dec 4, 2007
NORDIC BUSINESS REPORT-4 December 2007-Ship Finance International Ltd sells two Suezmax tankers(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian-controlled Bermuda-based ship owning company Ship Finance International Limited (NYSE: SFL) said on Tuesday (4 December) that it has agreed to sell its remaining two single-bottom/double-side Suezmax tankers.
The combined sales price for the 1991-built tankers Front Birch and Front Maple is USD80m, from which Ship Finance International will pay the the shipping group Frontline a compensation of approximately USD32.8m for the termination of the current charters on the two vessels.
The vessels are expected top be delivered to the new owners in December and January.
Ship Finance, headquartered in Hamilton, Bermuda, is one of the world's largest shipowners. The company is listed on the New York Stock Exchange and traded under the ticker SFL.
One British pound (GBP) is worth approximately 2.07 US dollars (USD).
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