SFL Acquires Two Containerships; Sells Feeders to MSC

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An aerial view of a container ship.

SFL Corporation is set to acquire two secondhand 14,000 TEU containerships, built in 2013 and 2014. Both vessels are chartered to a leading container line.

The vessels are expected to be delivered to the company in the third quarter of this year.

The seller and price paid were not disclosed.

Separately, SFL also said that Mediterranean Shipping Company has exercised a repurchase option for 18 “vintage” feeder vessels that were originally lease financed in 2018. The vessels are approximately 25 years old on average and between 1,100-4,400 TEU capacity. Net cash proceeds after repayment of debt is estimated to be approximately $40 million, which will be reinvested into new assets including the two 14,000 TEU containerships.