I got out of SFL a couple of weeks ago. (should have waited one more week) The Main reason was I did not like the Macro Economic out look for the company. With North America importing less and less oil and more manufacturing moves back the shipping industry as a whole looks a little bleaker. Now if USA starts exporting more Gas and Oil and finished product then the tables may turn again but that does not look near term.
rbeane...almost half of the SFL revenue is from leasing out off-shore drilling rigs and oil tankers 'are less' of their over-all business all the time (as is the leasing out of ships to FRO)...fact is, that world trade between countries is picking up all the time and there is only one way to move a lot of goods around the world (ships)....that said, I added more SFL shares today...! $tagg...!
Stagg, I don't buy the argument that world wide shipping is increasing so the participants are bound to make more profits. Increased trade, by itself, isn't good enough. Oil shipments around the world are greater than they were years ago, yet the oil transports are all in the dumpster where a few years back they were very profitable. Same for dry bulk shipping. All it takes is overbuilding of ships followed by intense competition and lowering of rates to the point that ships can't be run profitably. Unfortunately, the shipping industry has a long history of just that. So we need to 'look under the hood' in each case and keep an eye on the exit door.
Hello Message Board
DO ya think the share price will drop more, as it goes ex dividend tomorrow, I think it does///////
My guess is that the share price would be around $15 by tomorrow--just guessing
In any event, seems to me that buying here is a good idea..