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Stock impact report

SFL – Sale of Suezmax Tankers and Termination of 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
The gross sales price is expected to be approximately $57 million per vessel. Net proceeds are estimated at approximately $26 million per vessel after repayment of associated debt and payment of a termination fee to Koch, in accordance with a pre-agreed profit-sharing arrangement. The vessels will be delivered in the fourth and first quarter, respectively, and SFL expects to record an aggregate book gain of approximately $23 million from the transaction, allocated between the two vessels. The Company has furthermore agreed to terminate the charters for two 2020-built Suezmax tankers with Koch, whereby SFL will pay a termination fee in accordance with a pre-agreed profit-sharing arrangement. The two retained vessels are Korea built eco-design and equipped with scrubbers. The vessels will initially be employed in the spot market and in due course the Company may look for longer-term employment for these vessels. Ole B. Hjertaker, Chief Executive Officer of SFL Management AS, comm Show less Read more
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