rss icon Subscribe
desktop mobile

SFI Acquires Three VLCCs From Hunter Group

Tom Mulligan

Bermuda-based ship-owning and ship chartering firm Ship Finance International Limited (SFL) has agreed to purchase three very large crude carriers (VLCCs) from Norwegian investment company Hunter Group. The 300,000 dwt oil tankers are currently being constructed by South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME). Hunter Group placed the order for the VLCCs last year. SFI will pay almost $60 million for each tanker and a total of $180 million for all three. The vessels are scheduled to be delivered within the next two months.

The tankers will be fitted with exhaust gas cleaning systems to reduce the emissions of sulfur oxides (SOx) and other pollutants, and to meet IMO regulations. Once delivered to SFL, the ships will be charetered in a five-year agreement to Hunter Group with an option for Hunter Group to acquire them during the charter period.

SFL Management CEO Ole Hjertakersaid: "In an environment where traditional bank financing for maritime companies is becoming increasingly scarce, this transaction highlights SFL's unique position as a specialty financing company."

Sep 10, 2019

 

Contracts

Chinese Shipbuilder Orders TMC Compressors

Photo: Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC)

Chinese  heavy-duty equipment manufacturer Shanghai Zhenhua Heavy Industries (ZPMC) has contracted

Homeland Orders Security/Crew Vessels

(Photo: Homeland IOS)

Nigeria-based Homeland Integrated Offshore Services LTD (Homeland IOS) said it has placed an order

MacGregor Secures $22 mln in Contracts

MacGregor, part of Cargotec, has secured orders to provide MacGregor products to a Naval project in Europe and TTS products to a RoRo project in Asia. The total order value is

Tankers

Frontline Says No to Tankers Options from Trafigura

Image: Trafigura

The world's largest oil tanker shipping company Frontline Ltd has declined options to buy four

IMI Shipyard Inks VLCC Order with HHI

IMI & Bahri L-R: Mr. Fathi K. Al-Saleem, Chief Executive Officer, IMI Eng. Abdullah Aldubaikhi, Chief Executive Officer, Bahri. Photo: IMI

Saudi Arabia’s International Maritime Industries (IMI) has signed a vessel purchase agreement

ABS, SHI to Develop Next Generation LNG Carrier

Photo: ABS

ABS, the global provider of classification and technical advisory services to the marine and

Maritime Apps