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Ship Finance International Limited Message Board

  • bee_plus_001 bee_plus_001 Dec 6, 2011 10:13 AM Flag

    Given the current share price, this is an extreme positive for SFL

    With the new dividend rate, we are still getting over 9%. The overhang of FRO bankruptcy is removed. This is fantastic over the long haul.

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    • canoe,
      i gusse i'l put my head back in the sand on your say so. can't argue with such an astute holder of sfl stock. hope you are able to get rid of all your holdings soon. you must have a bunch,as many times as you post on this board.
      good investing to all.

    • morenatgas,

      Actually... JF just beat up the independent shareholder up by tearing up the old FRO - SFL charter contracts, not me. Sure he gave SFL some up front money, but he parked ever more risk into SFL - a finance outfit.

      Are you going to put your head back into the sand or try to understand what you invested in?

    • sfl business model:
      buy ships and drilling rigs at current price and lease them out on 15 year chaters. negotiat
      a fair price for contracts. lay back and let charters pay you cash and you pay share holders a decent return on their investments. it has been happening to me for about three and a half years now. dividens have been as high as .60 and their fixing to be cut to .25. the return on the .25 dividend is better than i can get at the bank and a lot of financial services.
      i have a lot of confidence that i will have growth mixed in with this. oh what a good year 2012 is going to be.
      now, canoe you dont own any sfl but you will be beating it down for some unknown reason. maybe some one pays you for this service. has to be,since you do not own any sfl shares. maybe you like to sit in front of the computer and play with yourself. go ahead and do what ever you do,most posters on this board have you number. number being "0".
      good investing to all

    • keebon,

      SFL is a artificial financial construct.

      You own the house. It is on your balance sheet. You have an arms length transaction with the guy.

      Not so with SFL. As an investor, you are riding JF's coattails as an independent party at risk to how he controls the SFL and FRO relationship.

      Think on this - your analogy, while clean bears no resemblence to the financial construct that is SFL.

    • canucanoe,

      Why would SFL want to terminate any of the contracts with FRO as long as money is coming it to cover debt service and other exspenses? Those ships are worth more to SFL when FRO stays in even a modified charter, which included a substantial cash payment. For SFL to cancel the charters, take the ships and then find new, more profitable charters is the last option I would choose.

      to cite another example, I have a house I am selling on a contract for deed. The guy has all kinds of trouble keeping up but the first priority is not terminating the contract and then having to sell the house into a depressed market. Much better to keep him in the house, even at a lower monthly payment, as long as the money coming in covers my expenses. Of course, if he were to stop making payments then all bets are off and I take the house back. Or, if the housing market were to significantly improve I might not be in a mood to give him a break. To me, the same logic applies to SFL not wanting FRO to go insolvent.

    • keebon...

      We in the West need to stop thinking we are all powerful. Sure, we have incredible WWII style fighting assets.

      But warfare has moved on.

      The individual and small fighting units are now so empowered and powerful.

      Knocking out Iranian Navy and Air Force assets will be easy.

      Missiles and speedboats won't be.

      It will be interesting to see who will pay for tankers sitting, loaded or unloaded. I'm sure there are all types of new contracts being written to anticipate this.

      It will be interesting to see which nation's economies tank on $150+/barrel oil, even given that they can receive it.

      And it will also be interesting to see what oil nations can boost oil production and bring it to port to make up for Iran. We live in a global market - for now, we can conjecture about political initiatives. But when politics turns to policy later this year, we'll see if it can be implemented without severe impact and fallout.

      But this is all really just wallpaper to cover up that SFL is ever more leveraged to tanker rates and not conservative finance arrangements. That is either a gift or curse from JF - for it didn't need to be. SFL could have taken control of FROs assets and benefitted its shareholders. Instead, SFL independent shareholders have more risked parked with them.

    • If one wants to bet on a spike in Suezmax rates, I would remind the board that NAT is all Suezmax (i think). Not something I would act on, but just a thought.

    • So many are now tanker rate speculators on this SFL board. Yet SFL is a finance outfit with additional, new, but upside limited, exposure to tanker rates. If tanker rate speculation whets your whistle, why not invest in JF's investment vehicle designed for just that - FRO?

      To the speculators on this board, who mouth that supply will be down but justify other factors to keep supply in abundance for higher rates from longer voyages

      - where does this abundance of fuel come from and where is this convenient port?

      btw, just curuious...

      1. is JF currently doing business with Iran? If so, how does that affect your calculations?

      2. Does Norway follow the EU lead - or can its citizens and businesses do business with Iran?

      3. How will the higher oil price cause reductions in oil consumption and which nations are particularly vulnerable to sharper drops in consumption?

    • reallywant,

      The US built tall buildings in the '20s and '30s. One of the tallest, the Manhattan Bank, didn't make a profit for 30 years.

      Do you read what you write?

      Or do you expect China to participate in WWIII as a wealth accumulator as the US did in prior WWs?

      btw, a simple median average analysis of China would show you that China cannot afford $200 oil. Don't get lost in your university math books.

      How you can promote $200 oil as being a boom to shippers is beyond me, irrespective of war footing.

    • If your need to understand my statistical knowledge is paramount then here you go. Yes I know the difference between mean and median average. Those are 5th grade methods that and kid with a 10 button calculator can use to evaluate a data set. They are prone to considerable error. Standard Deviation, Regression, and Analysis of Variation are far more effective when evaluating data. You're barking to the wrong guy on statistical evaluation. I did it for many years of my career evaluating millions of parts from a mfg operation.

      You are just a bag full of hot air. Trying to spin how much money is flowing from the US TO China with some monetary reserve nonsense is really sad. You don't really understand what you are trying to say.

      The simple fact is Millions per Minute of monetary wealth flow from the US to China now and long into the future. Your disillusioned perception of how 'poor' that country is obviously derived from television. China is home to 9 of the 20 tallest building in the world. 13 of the 20 longest bridges. Yeah, indicative of a 'poor' nation. WAKE UP DUDE !

      You really have no clue. Your 4 points of rebuttal are so inaccurate and you have no clue as to why.

      All of this is pointless to the real issue here. No matter how much negativity you post here it is not going to bring back that $5,000 dollars you lost on JF stocks. If you had a smidgen of a brain you would realize that some positive posts would have a better chance to get that money back. Think ? WAI

      This is it, find someone else to entertain you. Obvious you have no money left to do anything else.

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SFL
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