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Stock impact report

SFL - Acquisition of three newbuild LR2 product tankers in combination with long term charters [Yahoo! Finance]

SFL Corporation Ltd (SFL) 
Last sfl corporation ltd earnings: 2/18 06:34 am Check Earnings Report
US:NYSE Investor Relations: shipfinance.no/page/6834/ir_home
Company Research Source: Yahoo! Finance
purchase price of approximately $230 million in combination with long term time charters to a world-leading energy and commodities company. The vessels are currently under construction in China, with the latest eco-design features. The sellers are affiliates of the Company's largest shareholder Hemen Holding Ltd, and the purchase price is in line with valuations by independent shipbrokers. The Company expects to take delivery of the vessels between the second and fourth quarter of this year, and the charter period will be minimum five years plus up to three years of extension options. This adds close to $200 million to SFL's fixed-rate backlog, excluding the optional years. The charterer will have options to purchase the vessels after year five and eight, subject to a profit share mechanism with SFL. Ole B. Hjertaker, CEO of SFL Management AS, said in a comment: “We are pleased to do another milestone transaction in the tanker market at what we believe is an attractive stage of Show less Read more
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