Fredriksen company bags USD 80 million in vessel sale

Bermuda-based Ship Finance has entered a sale-and-leaseback deal for four container ships with an Asian institution, freeing up USD 80 million for new investments.

In May, listed company Ship Finance International, part of Fredriksen's business empire, bought four container ships from Lemos Group, but the ships are now already being sold on.

In a press release, Bermuda-based Ship Finance writes that the company has entered a lease financing deal for the four container ships, with a capacity of 14,000 teu each. The deal means that an undisclosed Asian institution will buy the vessels over a nine-year period for USD 400 million, against leasing them back to Ship Finance, which also has an option to buy the vessels back after six years.

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