Ship Finance International Limited (NYSE:SFL) (“Ship Finance” or the “Company”), today announced that it is has agreed to acquire two newbuilding Capesize dry bulk vessels from Golden Ocean Group Limited (“Golden Ocean” or the “Charterer”) based on a total delivered price of $160 million, or $80 million per vessel.
The vessels will have a cargo capacity of around 170,000 dwt each, and will be constructed by Daehan Shipbuilding Co. Ltd. in South Korea. Delivery from the shipyard is scheduled in 4Q 2008 and in 1Q 2009.