SFL Corp. Ltd. has agreed to acquire four modern Suezmax tankers in combination with long-term time charters to a subsidiary of Koch Industries.
Courtesy SFL Corp. Ltd. LinkedIn
A couple years ago, SFL announced its Glorycrown Suezmax tanker had completed her second special survey and was ready to commence trade in a buoyant tanker market with her newly fitted exhaust gas cleaning system. This photo was taken during her yard stay in Singapore.
Offshore staff
HAMILTON, Bermuda—SFL Corp. Ltd. has agreed to acquire four modern Suezmax tankers in combination with long-term time charters to a subsidiary of Koch Industries.
The vessels are built in 2015 and 2020, respectively, and all four have modern eco-design features including exhaust gas cleaning systems. The aggregate purchase price of the vessels is $222.5 million, and the company expects to take delivery between August and October.
The charter period of the vessels will be six years, adding approximately $250 million to SFL’s fixed-rate backlog. The charterer will have a possibility to terminate the charters after three years against a termination fee and also an option to develop a sale of one or more of the vessels from year four of the charter period, including a profit share arrangement with SFL.
