Clarification

Last week we reported on Ship Finance’s acquisition of three Supramax bulk carriers and need to clarify two points. First, the vessels were acquired charter-free with employment arranged separately. It is therefore likely that they are worth more today encumbered with the long-term charters. Also, we erred in our assumption that the vessels will be debt free at the end of the average nine-year charters. Clearly, they remain favored borrowers of the banks.

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