The vessels have been delivered to Ship Finance International Limited (or affiliates) on 6 September 2007. Furthermore and at the same date the vessels will go on the agreed bareboat charterparties.
The parties have entered into a 5 year interest-rate swap agreement, and compared to the press release August 10, the agreed bareboat charter rates have been reduced to the following yearly average amounts:
Years 2 x AHTS 2 x PSV 1-2 $17,300 $9,625 3-5 $15,925 $8,850
All other conditions mentioned in the press release of August 10, 2007 remain unchanged. The 5th vessel will be included in the sale and leaseback transaction in some weeks, and then a separate announcement will be made.
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