Early Charter Termination for SFL Trio

February 18, 2020

Sea Cheetah - Image Source: Solstad Offshore
Sea Cheetah - Image Source: Solstad Offshore

Solstad Offshore has terminated three AHTS bareboat charter agreements with SFL Corporation.

Solstad said that the three medium-size vessels Sea Cheetah, Sea Jaguar, and Sea Leopard, would be handed back to SFL - ex-Ship Finance Internation - during the first quarter of 2020.

"All three vessels have been laid up since 2016. The two remaining vessels on bareboat charter agreements between SOFF and SFL stay unchanged," Solstad Offshore said.

SFL on Tuesday released its quarterly report, in which it said it took a non-cash impairment of $34.1 million relating to five offshore vessels to Solstad.

According to VesselsValue, SFL has now sold the Sea Cheetah and the Sea Jaguar to undisclosed buyers.

Data on SFL's website shows there are two SFL platform supply vessels on a charter with Solstad, with backlog secured until the fourth quarter of 2027. The vessels in question are the Sea Pike and the Sea Halibut; both built in 2007.

The vessels in question were originally chartered by Deep Sea Supply from Ship Finance International more than a decade ago.

Deep Sea Supply in 2017 merged with Farstad Shipping and Solstad Offshore to create Solstad Farstad, which eventually became today's Solstad Offshore.

 



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