Independent journal on economy and transport policy
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Ship Finance International buys two 13,800 teu container ships from CMA CGM
These are the"CMA CGM Magellan" and the"CMA CGM Corte Real", which were built in 2010
March 21, 2011
"CMA CGM Magellan" and the"CMA CGM Corte Real", which are were built in 2010
Ship Finance International Ltd. (SFL) bought the two 13,800 teu container holder CMA CGM Magellan and CMA CGM Corte Real from the French company CMA CGM. The two ships, which were built last year, were rented for 15 years to the same transalpine company.
The sale took place for a gross consideration of 171 million dollars for each ship, including $55 million for each portacontainer as a subordinated claim of the transferor. Ship Finance explained that the transaction will be funded through the tax lease instrument provided for by the law French and that SFL's investment in this context is limited to $25 million for each ship.
Currently the SFL fleet in the segment of portacontainer, in addition to the two ships of 13,800 eu sold by the CMA CGM, consists of five units of 2,800 teu and four of 1,700 teu.
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