Ship Finance Books $68 million on Vessel Sales

Sometimes doing good deals isn’t just about finding attractive acquisitions, even for public companies that act as lessors and focus on stable long-term returns. For example Ship Finance International this week entered into an agreement to sell two suezmax tanker newbuildings under construction in China with delivery scheduled for 2009. At a price per vessel of $111 million, net of construction costs and broker commissions SFL expects to recognize a book profit of $34 million per vessel upon their delivery to the new owner.

This is only an excerpt of Ship Finance Books $68 million on Vessel Sales

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.