I have heard complaints from SFL and FRO shareholders, actually the "adjustments" made will help out both entities - SFL got over 100 million dollars from FRO to lower its debt in exchange for receiving lower rates ( however in this environment the rates were going to come down anyhow or not paid so SFL came out good ) FRO came out good because with the lower rates they have to pay SFL they will not be losing money and going out of business. Its a win / win situation, but as an investor buy both companies shares and quit whining - thats what I did.
i read an article concerning sfl and fro agreements to reduce the renta rates so as to save fro from any futher deteriation. it was signed by ole sfl's president. thats not what you are saying. where is this information coming from. inquiring mids would like to know.
by the way my sat was'nt high it was about normal. was your's abnormal,or was it you that had something to say about my sat. i was'nt one of the smartest ones in the room. they all worked for enron.
I'm actually very aware. Just about every company you refer to is controlled by JF.
The question is are you aware:
a. JF just ate the lunch of the independent SFL shareholder.
b. JF controls most every company SFL has a contract with.
c. SFL has little intrinsic management and technical expertise in operations and I would say banking. In fact, they are very few employees and they all cater to JF. After all, they have had many years to diversify from JF and have little to show for it.
d. You earlier referred to "guaranteed" contracts. I asked you which ones were guaranteed - you refused to answer. Is it because JF just broke the FRO-SFL "guaranteed" contract?
You just posted:
>>>Recently, FRO requested SFL to renegotiate their contract to help take into consideration the current low shipping rates. ...<<<
No... JF's left hand took from SFL independent shareholders and his right hand gave to FRO shareholders after depositing a little something extra to his pocket (new builds, the most efficient ships which will ride out the depression charter rates healthier). Now if you would only explain to me out of which side of his mouth he whispered his pearls of wisdom to you. I will then stand on the other side to gain true knowledge.
Since SFL independent shareholders just witnessed that there are no "guaranteed" contracts (at least between JF controlled entities), what guaranteed contracts are you referring to?"...
It's apparent you lack the basic knowledge on SFL's diversified business plan and the long term contracts they hold with major tanker shippers (30%) with FRO, container and bulk shippers, deepwater drill rigs, etc.
Recently, FRO requested SFL to renegotiate their contract to help take into consideration the current low shipping rates. SFL refused and said that any of their coparties who become delinguent or file bankruptcy will be dealt with severely in the courts.
Now getting back to those contratcts you know so little about. Where do you think all those dividends we're getting come from, the sky? They're the result of all those shrewed long term contracts set up to deliver the shareholders a continuing dependable stream of dividends.
why should i have to be taught something that i've kown for 48 years. my cat in the oilfield is one of the highest. i still keep my finger in it at times. glad to know an all knowing person like you i'll keep reading your post and maybe jusy mabe my cat will improve
Since SFL independent shareholders just witnessed that there are no "guaranteed" contracts (at least between JF controlled entities), what guaranteed contracts are you referring to?
Moves to diversify off of FRO?
First one would have to diversify off of JF. Maybe start with non Scandanavian employees? A Bermudan?
SFL is JF's piggy bank. Stick with JF in the good times. The crumbs he leaves for you are valuable ones. In bad times, recognize that you are an invested in a construct, SFL, that exists for bad times. He won't leave you crumbs but take your shelter instead.
You probably didn't do too well in your SATs.
Halliburton is an energy technology company. HAL is loaded to the gills with energy search and production technology and services.
SFL is a finance outfit. Look up how many employees SFL has. LOL! All (yet so few) are bankers, lawyers and paper pushers.
Energy companies are not so staffed - but you know that, yes?
Please... learn your company and its category.
....."ABout half the fleet is oil tankers. Another 25% is container an bulk on long term leases like the FRO ships were. Container is not in good shape and bulk is not in much better condition than oil tankers.
Most of the capital commitment going forward is bulk and container.
The key here is world economic activity not the lease mix.".....
slaphappy, you're a born loser as eveidenced from your idiotic post. Nowhere do you mention the 50% of revenues derived from the deep ocean rigs, which is the most profitable of SFL"s business. Your too stupid to understand SFL's business program. Yuk Yuk Yuk
.....this is not like me to get in conversations on a message board. i usuall make a statement that is material to the stock at hand, and move on. it took me a little while to realize a couple of you were accusing me of being stagg. thats not true. and you all are accusing stagg of having several idenities. well i cant address that but i am not another name for stagg. surely the way you all talk you are computer savey enough to check out my idenity.
good investing to all"......
Sentiment : Strong Buy morenatgas
I decided to take the holidays off since there was nothing new to talk about on SFL until morenatgas posted that great Forbes article which like myself believes the stock is way oversold. Contracts guaranteed (including FRO)going out for the next 12 years means the dividends will remain at the 85% payout level for some time to come. And with Obama's smart leadership we are finally witnessing the end of the Bush fiasco. Nine dollars looks to be the low for SFL after the 1 percenters got in cheap and we should start climbing back up the ladder from here on out.
All the knuckleheads like norrishappy, sid66, shetthead aka allnightdat, etc. notwithstanding can not stop this juggernaught once it starts going up. Yuk Yuk Yuk