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Ship Finance International Limited Message Board

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  • tx_rodmaster tx_rodmaster Feb 7, 2009 11:03 AM Flag

    What's with SFL today

    You better go review your homework. Don't let the name create you definitions. The company profile shows that SFL owns and operates 58 vessels. It is also involved in charter, purchase, and sale of vessels.

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    • tx

      Darn, you replied before I did and messed up my hurtful and demeaning (yet witty) post. Now I can't vent all my frustrations on purdu...

      At least you threw me a bone so here it goes...

      Yeah, purdu also thinks that the Patriot Act if for patriots, and the Fair Labor Standards Act is fair, and the the Protect America Act protects americans, etc...

      The world needs all kinds of people... or so I've heard some say...

    • Not correct.

      Think you need to do your research as SFL certainly owns and leases ships - tankers and dry bulk, drilling rigs and other things. They do not however operate any of them. They are leased mostly to FRO or various companies associated with FRO. The banking discussion coming on monday will be huge to see if lending loosens up and interest rates drop. That would be a huge direct assist to SFL by reducing borrowing costs and improve the world economy.

      From their website: Ship Finance International Limited is a major shipowning company listed on the New York Stock Exchange (NYSE: SFL). Including newbuildings, the Company owns a fleet of 70 vessels, including 33 crude oil tankers (VLCC and Suezmax), two chemical tankers, eight oil/bulk/ore vessels, 13 container vessels, three dry bulk carriers, six offshore support vessels, two jack-up drilling rigs and three ultra-deepwater drilling units. The fleet is one of the largest in the world with a total cargo capacity of more than 11 million dwt. All vessels are employed on medium or long term charters.


      • 2 Replies to arbtrdr
      • SFIn the first quarter of 2004, Ship Finance used the proceeds of the $580 million of 8.5% Senior Unsecured Notes due 2013, together with a refinancing of existing debt, to fund the acquisition from Frontline of a fleet of 47 crude oil tankers (including one purchase option for a VLCC) and each of the ships were chartered back for most of their remaining lives. In connection with this transaction, 6 Joint Ventures between Frontline, OSG and Euronav were dissolved. The result of this was that Frontline were left with two wholly owned VLLCs. Frontline also entered into fixed rate management and administrative services agreements with Ship Finance to provide for the operation and maintenance of these vessels and administrative support services. The charters and the management agreements were each given economic effect as of January 1, 2004. Ship Finance's shares were listed on the New York Stock Exchange on June 17, 2004 under ticker symbol "SFL". 25% of the shares in Ship Finance were given in dividend to the Frontline shareholders in June, and another 10% in September.
        L serves as a finance company for Fronline

      • The following was taken directly from the company profile and it specifically states that through subsidiaries it "owns and operates". I would assume that a published company profile would be accurate.

        Ship Finance International Limited, through its subsidiaries, owns and operates vessels and offshore related assets in Bermuda, Cyprus, Liberia, Norway, Delaware, Singapore, and the Marshall Islands. As of December 31, 2007, the company owned a fleet of 58 vessels, including 27 crude oil carriers, 7 Suezmax crude oil carriers, 8 oil/bulk/ore carriers, 1 dry bulk carrier, 8 container vessels, 2 jack-up drilling rigs, and 5 offshore supply vessels. Ship Finance International focuses on serving various segments of the shipping and offshore industry, including oil transportation, drybulk shipments, chemical transportation, container transportation, drilling rigs, offshore supply vessels, and seismic exploration. It also involves in the charter, purchase, and sale of vessels. The company was founded in 2003 and is based in Hamilton, Bermuda.

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