The vessels are employed under long-term time charters to Maersk Line A/S until 2024, with options to extend the charters by up to four additional years.
A portion of the proceeds from the lease financings have been used to refinance the $200M loan facility arranged at the time of the acquisition.
The transactions free up about $70M of investment capacity, which is expected to be deployed in new investments.
Also, Ship Finance delivered the 2002-built VLCC Front Falcon to its new owner. As a result, the company only has one vessel remaining from its initial fleet in 2004.
Previously: Ship Finance International to sell 2002-built VLCC Front Falcon (Nov. 19)
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