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SHIP FINANCE INTERNATIONAL CONFIRMED AS BUYER OF VLCC HUNTER SAGA

John Fredriksen’s Ship Finance International (SFL) has been confirmed as the buyer of three VLCC newbuildings owned by Arne Fredly’s Hunter Group under a sale and leaseback deal announced by Hunter at the end of August. The three vessels Hunter Atla, Hunter Saga and Hunter Laga are currently ready for delivery at South Korean yard DSME. The net purchase price is $60m each, and the scrubber-fitted vessels will commence five-year bareboat charters to Hunter Group with purchase options. “The agreed purchase price is significantly below current broker estimates for VLCC resales, effectively providing SFL with a very attractive risk profile and the transaction will add more than $100m to SFL’s fixed-rate charter backlog,” SFL said in a release.