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Hamilton, Bermuda - December 18, 2015. Ship Finance International Limited (NYSE: SFL) ("Ship Finance" or the "Company"), today announced that the Company has agreed to build two 114,000 dwt LR2 oil product carriers at a shipyard in Korea. The vessels are scheduled to be delivered during the second half of 2017 and will thereafter commence long term time-charters to a US based investment-grade energy company. The charter period will be minimum seven years with options to extend the charter period by up to two years, and the aggregate annual EBITDA contribution from the vessels is estimated to approximately $11 million on average during the firm period of the charter. Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "We are very pleased to further expand our presence in the tanker market with long term time-charters to one of the leading oil majors. The transaction demonstrates our standing in the market as a high quality provider of transportation services for our customers, and we continue building our fleet and charter backlog with accretive acquisitions." About Ship Finance Ship Finance International Limited (NYSE: SFL) has an unprecedented track record in the maritime industry, being consistently profitable and paying dividends every quarter since 2004. The Company's fleet of more than 70 vessels is split between tankers, bulkers, container vessels and offshore assets, and Ship Finance's long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company's website: www.shipfinance.bm Ship Finance International Limited press release |
