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Eimskip sells Three Reefer Vessels in Norway

Logistic News - Published on Thu, 05 Dec 2019

Image Source: Eimskip
Eimskip has made an agreement to sell three of the Company‘s reefer vessels in Norway for USD 12 million. These vessels, Langfoss, Stigfoss and Vidfoss, are 30 years old and have been operated by Eimskip in Norway for 20 years and owned by the Company for the last 8 years. Eimskip has parallel to the sale agreed to charter one of the divested vessels for the next two years.

The vessels are to be delivered to the buyer at the beginning of next year. Eimskip will provide a seller’s loan equaling 50% of the vessels purchase price with term of six years and quarterly installments and interest payments. As the book value of the vessels exceeds the purchase price, Eimskip will realize EUR 2 million impairment loss through amortization in the fourth quarter of 2019.

The sale is subject to customary reservations in vessels sale and purchase.

Eimskip is currently operating six reefer vessels but following the sale it will operate four, of which three are owned by Eimskip.

Source :

Posted By : Arun Huidrom on Thu, 05 Dec 2019
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