SFL CORPORATION, of Bermuda, with a fleet of 80 vessels, split between tankers, bulkers, box ship and offshore assets, has announced its agreement to acquire two neopanamax containerships in combination with charters to MSC.
The acquisitions, built in 2013 and 2014 with each in the 14,000-TEU range, have a modern eco-design, similar to four SFL existing ships, reports Jacksonville’s Container News.
SFL said it expects to adopt the couple of containerships until the third quarter of the year, while it has already received financing indications, and the balance will be funded by cash at hand.
The box ships are employed on time charters until 2023 and 2024, respectively, where they will be available for new charter opportunities.
“Cash flow is immediate, and we believe the timing for when the vessels will be open for new charters in 2023/2024 could prove to be very attractive”, said SFL Management CEO Ole Hjertaker.
“We expect to initiate discussions for new charters well in advance of expiry of the existing charters. The EBITDA contribution from the two vessels is US$29 million per year, until expiry of existing charters,” noted the company.

Source : Shippingazette