SFL Acquires Containership

Monday, July 16, 2007
Ship Finance International Limited announced the agreement to acquire the 2003 built vessel Montemar Europa. This acquisition includes an existing time-charter to a subsidiary of Compania Sud Americana de Vapores (CSAV) of Chile, the largest liner shipping company in South America. The net purchase price will be approximately $32.5m and delivery to Ship Finance is estimated to take place in late August or early September. The charter to CSAV expires in October/November 2008, and the net time-charter rate is approximately $13,500 per day. Recently, the charter market for modern 1700 TEU container vessels has strengthened significantly, and Montemar Europa will be marketed for medium to long-term contracts following the expiry of the existing charter in 2008. The financing of the acquisition will be through cash and existing credit lines, and the transaction is expected to be immediate accretive to earnings and dividend capacity. The investment verifies the Company's strategy to grow and diversify the asset base, and we anticipate further growth opportunities in the container segment.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Libyan Navy Seizes Foreign Tanker

Libyan naval forces have seized a Sierra Leone-flagged oil tanker on suspicion of illegally entering Libyan waters in an attempt to smuggle gasoline, authorities said on Saturday.

Berlin film "Fire at Sea" shows Horror of Refugee Crossings

* Movie highlights tragedy of migrant crisis * Filmed mainly on Italian island of Lampedusa * Interleaves lives of islanders with refugees * Film competing for

DARPA All Set To Launch Submarine Hunting Drone

The Defense Advanced Research Projects Agency (DARPA) will launch in April a sleek, 132-foot warship from Portland, OR, testing its abilities over a succeeding period of 18 months.

Container Ships

Hapag-Lloyd Enhances Conosur Service

Hapag-Lloyd has informed about its service enhancements on the Conosur Service (South America West Coast to South America East Coast). This is being upgraded by

Adani Ports Income Up by 15%

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter

Shipping Corporation Q3 Profit Surges

The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 31st December 2015 posting a net profit of Rs. 59.66 crores as against a net profit of Rs.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0630 sec (16 req/sec)