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Seven boxships and charters for SFL

Seven boxships and charters for SFL
Ship Finance International Limited has bought seven 4,100 teu boxships, with long term charters, from a German KG fund.

The 2002-built vessels will be delivered in the next few weeks and are expected to add $10m annual EBITDA during the charters, which include purchase options with profit share after around 5.4 years.

"This transaction originates from the German KG market, and while the exact terms of the deal is confidential, the acquisition price is seen as very attractive." commented Ole B. Hjertaker, ceo of Ship Finance Management.

"We have monitored the German market closely after the financial crisis that started in 2008/2009, but there have been relatively few transactions so far where we have seen a combination of quality assets, attractive prices and long-term chartering opportunities."