P&O Nedlloyd sells, charters back 14 boxships
P&O Nedlloyd said today it intends to sell and charter back 14 of its container vessels in the next few months, using the German ship financing “KG” system.
The 14 ships range in size from 3,600 to 4,200 TEUs, and will continue to be operated by P&O Nedlloyd under long-term charter agreements. They will be managed by P&O Nedlloyd-owned Reederei Blue Star in Hamburg.
“The refinancing will provide the company with additional liquidity and lengthen the average term of its borrowings,” P&O Nedlloyd said. The refinancing will be accounted for as a finance lease arrangement and will have no significant impact on the company’s balance sheet.
P&O Nedlloyd said no change was anticipated in crewing or flagging policy.