Ship Finance International Ltd. has agreed to build four 4,800 TEU newbuilding container vessels at a state-owned shipyard in China with scheduled delivery in 2013, mb.com reports.
The aggregate construction cost is $230 million, with a majority of the payment due on delivery of the vessels. The company expects to secure bank financing for up to 80% of the purchase price.
The vessels will be chartered on time-charter basis to a large, European-based container line for seven years from delivery, and the charter rate will be approximately $26,250 net per day per vessel.
The vessels have high specification with the so-called wide-beam container vessels, optimized for higher cargo intake and very efficient speed and consumption to existing vessels of similar size.
Ole B. Hjertaker, CEO of Ship Finance Management AS, said: "We are very pleased to further expand our presence in the container market with these state-of-the-art containerships with long term charters to a reputable international container line."
"It demonstrates our ambition to continue building and renewing our fleet, expanding our presence in the container market with modern assets and high-quality counterparts. This project will add $270 million to our charter backlog, which currently stands at more than $7 billion."
The aggregate construction cost is $230 million, with a majority of the payment due on delivery of the vessels. The company expects to secure bank financing for up to 80% of the purchase price.
The vessels will be chartered on time-charter basis to a large, European-based container line for seven years from delivery, and the charter rate will be approximately $26,250 net per day per vessel.
The vessels have high specification with the so-called wide-beam container vessels, optimized for higher cargo intake and very efficient speed and consumption to existing vessels of similar size.
Ole B. Hjertaker, CEO of Ship Finance Management AS, said: "We are very pleased to further expand our presence in the container market with these state-of-the-art containerships with long term charters to a reputable international container line."
"It demonstrates our ambition to continue building and renewing our fleet, expanding our presence in the container market with modern assets and high-quality counterparts. This project will add $270 million to our charter backlog, which currently stands at more than $7 billion."