SFL - Sale of vessel and charter termination compensation from Frontline
Press release from Ship Finance International Limited,
June 4, 2012
Ship Finance International Limited (NYSE:SFL) ("Ship Finance" or the "Company"), today announced that it has agreed to sell the 20-year old combination carrier Front Rider to an unrelated third party and has simultaneously agreed to terminate the corresponding charter party with a subsidiary of Frontline Ltd. ("Frontline").
Delivery to the new owner is expected to be in July 2012 and Ship Finance expects to receive net proceeds of approximately $10.2 million including a $0.5 million charter termination compensation payment from Frontline. As a result of the sale, the Company expects to record a book gain of approximately $1.7 million in the third quarter of 2012.
June 4, 2012
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda
Ship Finance (SFL) har chartered OBO Carrier "Front Rider" ud til Frontline (FRO) (FRO.OL) der har skibet under commercial Management hos Golden Ocean (GOGL.OL)- alle er John Fredriksen selskaber
http://www.shipfinance.bm/
http://www.frontline.bm/
http://www.goldenocean.no/
Foto: OBO "Front Rider" (OBO = Ore-Bulk-Oil)
Press release from Ship Finance International Limited,
June 4, 2012
Ship Finance International Limited (NYSE:SFL) ("Ship Finance" or the "Company"), today announced that it has agreed to sell the 20-year old combination carrier Front Rider to an unrelated third party and has simultaneously agreed to terminate the corresponding charter party with a subsidiary of Frontline Ltd. ("Frontline").
Delivery to the new owner is expected to be in July 2012 and Ship Finance expects to receive net proceeds of approximately $10.2 million including a $0.5 million charter termination compensation payment from Frontline. As a result of the sale, the Company expects to record a book gain of approximately $1.7 million in the third quarter of 2012.
June 4, 2012
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda
Ship Finance (SFL) har chartered OBO Carrier "Front Rider" ud til Frontline (FRO) (FRO.OL) der har skibet under commercial Management hos Golden Ocean (GOGL.OL)- alle er John Fredriksen selskaber
http://www.shipfinance.bm/
http://www.frontline.bm/
http://www.goldenocean.no/
Foto: OBO "Front Rider" (OBO = Ore-Bulk-Oil)
