NEW YORK (AP) — Oil tanker owner and operator Ship Finance International Ltd. said Friday it has agreed to acquire two newly built chemical tankers for a combined $60.2 million.
One vessel is expected to be delivered this month, and the other is projected to arrive in August. The vessels will both be chartered for 10 years to privately owned Norwegian chemical tanker company Bryggen Shipping & Trading AS.
The vessels will be chartered at a rate of $8,000 per vessel per day. At the end of the charter period, Bryggen has the option to buy the vessels for $20 million each.
Bryggen has sub-chartered the vessels for the entire period to Sinochem International Co. Ltd., a Chinese chemical logistics provider.
The transaction will be financed with a 10-year, $49 million senior loan facility and $11.2 million in equity.
After Ship Finance repays the debt and interest expenses associated with the deal, it expects an annual net benefit of $1.4 million.
Shares fell 89 cents, or 3.5 percent, to $24.62 in afternoon trading amid steep losses in the broader market.