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Bermuda-headquartered Ship Finance International Limited has entered into an agreement to acquire three 9,000 TEU container ships from an unrelated third party.The vessels are currently under construction and are expected to be delivered to Ship Finance between 4Q 2015 and 1Q 2016, subject to customary closing conditions and approval by the charterer.The vessels have similar technical specifications as the company’s recently delivered 8,700 TEU container vessels, with the latest in eco-design features.The vessels have been chartered out for a minimum period of five years to a European-based container line, with options to extend the charter period by up to two years.The company’s charter backlog will increase by approximately USD 200 million and the aggregate annual EBITDA contribution from the vessels is estimated to more than USD 30 million on average during the five year firm period of the charter.“We are very pleased to further grow our presence in the containership segment with these state-of-the-art vessels, and at the same time expand our chartering counterparties with one of the leading container lines,” said Ole B. Hjertaker, CEO of Ship Finance Management AS.”Our charter backlog and long-term distribution capacity is building in an accretive manner, and there is still significant capacity for more investments without raising additional equity capital.”
TOP PHOTO: School Member Faye Heatherly (left) visits with Senator Ken Yager (right) at a gathering in 2019.NASHVILLE, TN (WLAF) – Today, State Senator Ken Yager announced that the Tennessee General Assembly has extended the state sales tax holiday for 2020 to two weekends and increased the limits on tax-exempt items. This extension, which was included in the Fiscal Year 2020-2021 Budget, will help Tennesseans save money and support the economy.“Many Tennesseans are facing significant economic hardship due to the effects COVID-19 has had on our economy,” said Yager. “This will help keep more money in the pockets of Tennesseans, while also supporting local businesses and jobs. I recognize, too, and appreciate the strong support from my House colleagues Representatives Kelly Keisling, John Mark Windle, Kent Calfee, Ron Travis, Dennis Powers and John Ragan for this extension. We worked together to get an additional sales tax holiday for constituents.”Below is more information on the sales tax holiday from the Department of Revenue:The first tax-free holiday weekend focuses on clothing and other back-to-school items. It begins at 12:01 a.m. on Friday, July 31, and ends Sunday, August 2, at 11:59 p.m. During this time, consumers may purchase clothing, school supplies, and computers and other qualifying electronic devices without paying sales tax. Certain price restrictions apply. For school supplies and clothing, the threshold for qualifying items is $200 or less. For computers and other electronics, the price threshold is $3,000 or less. Download the full list of tax-exempt items HERE.Exempt items sold online are also eligible. Consumers must purchase items for personal use, not business or trade.The second sales tax holiday weekend focuses on restaurant sales. It begins at 12:01 a.m. on August 7 and ends Sunday, August 9, at 11:59 p.m. During this time the retail sale of food and drink by restaurants and limited service restaurants, as defined in Tenn. Code Ann. § 57-4-102, is exempt from sales tax.For more information about the sales tax holiday weekends, visit HERE.Share this:FacebookTwitter
Australian house prices are among the world’s most expensive when measured against incomes and rents, according to the Bank for International Settlements (BIS).According to the Basel-based BIS’s latest quarterly review of global housing, Australia was the second most expensive market on a seasonally and inflation-adjusted index of advanced economies, behind Norway and ahead of Great Britain and Sweden. On a price-to-rent ratio, which assesses the theoretical ability of rental yield to cover mortgage costs, Australia is also among the world’s highest-cost housing markets. The same goes for the price-to-income ratio, which reflects affordability. Source: Fairfax Media Facebook Twitter: @NeosKosmos Instagram