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Ship Finance International Limited Message Board

  • pay.back37 pay.back37 Jun 18, 2013 10:47 PM Flag

    Pure Speculation

    I have no basis for this, but am wondering if SFL is just looking to pay down current debt. Perhaps, SFL is about to scrap some of the unprofitable vessels that FRO leases from them. Looking at the latest presentation on slide 7 we can see SFL has ~$445M in debt related to FRO.

    8M shares @ $16.45 is $131.6M or about 29.6% of the remaining debt. I'm not sure how to determine the current scrap value of the vessels but this might make up the difference.

    I don't see any reason for SFL to buy the two vessels FRO has under construction. They are looking to reduce exposure to FRO and crude carriers.

    Thoughts?

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