2011 April 12   07:46

Ship Finance International orders four ships

Ship Finance International placed a $230 million order for four vessels with a capacity of 4,800 20-foot equivalent units each, the shipowner announced April 11, Journal of Commerce reports.

The contract with an unnamed state-owned Chinese shipyard comes just three weeks after the Bermuda-registered company paid $342 million for two 13,800-TEU 2010-built vessels that are on charter to French ocean carrier CMA CGM.

The company said the four new vessels, which are due for delivery in 2013, will be chartered on a time charter basis to "a large European-based container line" for seven years at a net daily rate of approximately $26,250.

SFI Chief Executive Officer Ole Hjertaker said the four ships will add around $270 million to the company's charter backlog which currently stands at more than $7 billion.

The company's 72 ship fleet comprises 11 container vessels, including five on charter to US-flag Horizon Line.