John Fredriksen’s SFL Corporation has bought three new LR2 product tankers for a total purchase price of around $230m and arranged long-term charters for the vessels. The vessels, bought from affiliates of the company’s largest shareholder Hemen Holding, are currently under construction in China. SFL said that the purchase price was in line with valuations by independent shipbrokers. The delivery of the vessels will occur between the second and fourth quarter of this year. SFL also agreed long-term time charters with a “world-leading energy and commodities company”. The charter period will be a minimum of five years plus up to three years of extension options. The charters add close to $200m to SFL’s fixed-rate backlog, excluding the optional years. The charterer will have options to purchase the vessels after the fifth and eighth year subject to a profit share mechanism with SFL. “These product tankers are the most desired vessels for carrying clean petroleum products over long sea distances between the largest refineries and consumer centres of the world and will be in high demand to meet the future energy needs of the world,” said Ole B. Hjertaker, CEO of SFL Management. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsNorway