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Ship Finance International Limited Message Board

  • getthefactsstraight getthefactsstraight Aug 26, 2010 6:22 PM Flag

    FOR SERIOUS SFL INVESTORS ONLY

    The earnings report today was most impressive. Not only did SFL beat the street on earnings but increased the dividend by 6.1% the second increase in successive qtrs.

    One of the more amazing points brought up in today's earnings report meeting was the increase in the FIXED RATE CHARTER BACKLOG TO $7BILLION or ($86/shr.)

    Now, if you like playing Russian Roulette, by all means take sid's advise and see how fast your hard earned money evaporates.

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    • Board members...Lets not forget that SFL just added three Suparmax Dry Bulk Carriers to their lease out fleet...and this will increase their current revenue...! That said, SFL is still growing and increasing their dividend...!

    • Can you explain to me how the backlog is calculated, what it means, etc in terms a non guru can understand ?

      • 2 Replies to rogers2308
      • ..."Can you explain to me how the backlog is calculated, what it means, etc in terms a non guru can understand ?"...

        rogers2308

        Very simply put, this number is the gross amount of long term fixed charter revenues coming in before deducting all expenses and dividends. It means you're invested in a very profitable coporation paying an 8% dividend.

        You, unlike sid99, are an intelligent investor. It doesn't get much better than this.

      • <<Can you explain to me how the backlog is calculated, what it means, etc in terms a non guru can understand ?>>

        It's just the sum total of lease payments due to SFL. For example, they just leased 3 supramaxes for ~9 years each at $17,000/day. $17k/day * 360 days/year * 9 years = $55M backlog from each ship.

        "Charter backlog" is an interesting but somewhat useless number. eg, out of that $55M, SFL will have to pay interest and principal on the loan ($27M), operating expenses, routine surveys, and recover the down payment ($6.7M). The backlog tells you the committed future revenue (assuming all of the counter-parties stay in business and none of them cancel leases) without telling you anything about future expenses. It tells you SFL is a big company, and changes in the backlog tell you how well SFL's team is creating new deals to replace those that expire, but that's about it.

    • $.35 per share in these times is HUGE! I have been a holder since the initial FRO to SFL distribution. I am truely a fan of SFL.

      • 2 Replies to talksoftlybigsmile
      • ..."$.35 per share in these times is HUGE! I have been a holder since the initial FRO to SFL distribution. I am truely a fan of SFL."...

        talksoftlyb...

        Congratulations on an astute investment acquistion.

        With the substantial cash flow coming in and now increasing even more with those 3 new Supramax ships just delivered and bringing in $51,000/day for the next 9 years, that dividend is going back to .60/shr in short order.

      • earnings and distributions for VLCCF...In that case THEY BEAT THE ESTIMATE and had higher numbers, not lower numbers like SFL did. Paying out 50 cents this quarter...up from 40 cents last quarter...

        With current economic deterioration going on, this could easily become a $15 stock again in 4 to 6 months.....Anything over $15 is too high a price....are you aware that FRO has idled some of their tankers because the rates are currently too low to even break-even????Bet you did not know that!!!!

 
SFL
15.09+0.24(+1.62%)Dec 19 4:05 PMEST

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