SFL Sells Vessel, Terminates Charter

Press Release
Wednesday, May 18, 2011

Ship Finance International Limited (NYSE:SFL) ("Ship Finance" or the "Company"), today announced that it has agreed to sell the 20-year old combination carrier Front Breaker to an unrelated third party and has simultaneously agreed to terminate the corresponding charter party with a subsidiary of Frontline Ltd. ("Frontline").

Delivery to the new owner is expected to be in May 2011 and Ship Finance expects to receive net proceeds of approximately $17.9 million including $6.6 million charter termination compensation payment from Frontline. As a result of the sale, the Company expects to record a book gain of approximately $3.8 million in the second quarter of 2011.

 

Source: Ship Finance International Limited

Maritime Today


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

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

Finance

Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities

Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.

AIWA Highlights Investment Needs on the Nation’s Marine Highways

Nowhere is that more important than on the Atlantic Intracoastal Waterway. As 2016 begins, we at the Atlantic Intracoastal Waterway Association (AIWA) are looking

Vessels

All Ships’ Ballast Water Checked in Great Lakes Seaway

Great Lakes Seaway Ballast Water Working Group releases 2015 ballast water management report    The Great Lakes Ballast Water Working Group (BWWG) released its

Meyer Turku Lays Keel of Tallink’s LNG Ferry

The keel of the Tallink’s new LNG-powered fast ferry Megastar was laid at the Meyer Turku shipyard   The hull assembly of Tallink’s new fast ferry Megastar started

New Multipurpose Tractor Tugs from OSD

Netherlands-based OSD (Offshore Ship Designers) has designed a new series of tractor tugs which can be used for a range of functions, including escort operations,

 
 
Maritime Contracts Maritime Security Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0670 sec (15 req/sec)