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 Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Greek Warship Evacuates Libya Personnel

Greece safely evacuated embassy staff and more than one hundred Chinese and European nationals from Libya early on Friday with a navy frigate sailing back to the Greek port of Piraeus,

Rolls Royce Marine Awarded LCS Engine Repair Contract

U.S. Department of Defense informs that Rolls Royce Marine North America, Walpole, Massachusetts, is being awarded a US$9,000,000 firm-fixed-price repair order

ABS President Wiernicki Signs New MARAD Agreement

The American Bureau of Shipping (ABS) informs that it has entered into a new Memorandum of Agreement (MOA) establishing the policies and procedures regarding the

Container Ships

Matson Reports Solid Q2 2014 Results, Dividend Increased

Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

Hamburg Süd Opens Office in Nanjing

On August 1, Hamburg Süd will open an office in Nanjing, China, to be headed by general manager Steven Pu. Hamburg Süd now operates from 20 locations in Greater China.

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0934 sec (11 req/sec)