SFL continues its fleet renewal programme, to sell its 2002-built VLCC
Ship Finance International Limited (SFL, “Ship Finance” or the “Company”) reports it has agreed to sell the 2002-built VLCC Front Falcon to an unrelated third party. Delivery to the new owner is expected later this quarter, and the net sales price will be approximately $30.7 million.
The Company does not expect a material book effect from the transaction. Divesting of older vessels is part of Ship Finance’s strategy to continuously renew and diversify its fleet. Following this transaction, the Company has three VLCCs remaining on charter to a subsidiary of Frontline Ltd.
About Ship Finance
Ship Finance International Limited (NYSE: SFL) has a unique track record in the maritime industry, being consistently profitable and paying dividends every quarter since 2004. The Company’s fleet of more than 80 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.