Marine link
 

Ship Finance

Ship Finance Posts Third Quarter Results

Ship Finance International Limited announced its preliminary financial results for the quarter ended September 30, 2013, reporting preliminary 3Q 2013 results and quarterly dividend of $0.39 per share Hamilton. Highlights Declares third quarter dividend of $0.39 per share Refinanced $390 million bank debt related to an ultra-deepwater drilling rig Disposal of two older VLCCs Selected key financial data: Three Months Ended:                                    Sep 30, 2013     /    Jun 30, 2013 Charter revenues(1)      $157m      /     $154m EBITDA(2)                        $121m     /      $122m Net income                      $13m       /      $25m Earnings per share        $0.14       /      $0.29 Dividends and Results for the Quarter Ended September 30, 2013


SFL Buys Two Car Carriers, Charters Them Out

Ship Finance International Limited (SFL) acquire two car carriers & both have been chartered out. The Japan-built vessels have a capacity of approximately 6,500 car equivalent units (CEU) and were built in 2005 and 2006, respectively. The vessels will be time chartered to an investment grade logistics company, publicly listed in Asia. The charter period will be five years, adding approximately $85 million to our charter backlog


Independent Online Shipping Exchange Launched

Shipping finance specialist Tufton Oceanic is reportedly launching an independent web-based shipping chartering exchange with a group of e-commerce and investment companies. The exchange, to be called ShipDesk, aims to become the definitive independent chartering exchange, benefiting all market participants, a spokesperson said. ShipDesk, which will go live later this year, has been developed in conjunction with U.S


Drewry Report Examines Investment in Ships

Drewry research highlights a buoyant industry but aims to prevent over-optimism by pointing to previous shipping cycles “Investment in Ships” examines the crucial factors and shipping sectors but advises caution to maintain current growth rates Drewry Shipping Consultants announced that its latest report, “Investment in Ships” is now available to purchase. This independent assessment of all the shipping markets identified that most of the world’s leading shipbuilders are in possession of


Key Maritime Insights Offered at Shanghai Forum

The International Shipping Strategic Development Forum met in Shanghai for wide-ranging discusion on the shipping industry. With high profile support from the Lord Mayor of London David Wooton who opened the forum, the event was attended by 450 and brought together some of the UK’s leading maritime professionals and China’s shipowners and charterers. Key presentations from the forum included: Economic outlook: Standard Chartered China Chief Economist Shen Lan gave a modest


Lloyds to Sell $500m in Shipping Loans

Lloyds Banking Group has reached an agreement to sell $500 million of shipping loans from its remaining ship finance portfolio, finance and banking sources familiar with the matter said on Wednesday. Bank of America and U.S. hedge fund Davidson Kempner Capital Management were expected to buy the loans, one of the sources said. Lloyds, Bank of America and Davidson Kempner all declined to comment. (Reporting by Jonathan Saul and Matt Scuffham; Editing by Pravin


Frontline Ltd. Develops Heavy Lift Activity

In line with the strategy decided by the Board, Frontline Ltd. is currently in the process of establishing a separate entity to develop the company's heavy lift activity. Such a company will include up to six single hull Suezmax vessels. Five of these vessels are on long term leases from Ship Finance International Limited, and a deal is subject to reaching a mutually acceptable solution with Ship Finance International Limited for a purchase of these vessels


Background to Shipping Initiative Seminar Scheduled

Just three years after its introduction, the five-day Background to Shipping seminar from leading training provider Lloyd’s Maritime Academy is now established as a major foundation course for both experienced practitioners and industry newcomers. Enrolment is under way for the ninth seminar in the series, which takes place in central London from December 3-7 and, like its predecessors, is attracting staff from some of the world’s best-known shipowners, ship managers


Planning Starts on Shiptec China Mega-Expo

Scene at Shiptec 2012: Photo credit Shiptec

Planning now underway for the International Shipbuilding, Marine Equipment & Offshore Engineering Exhibition in Dalian, China This increasingly important event takes place between the 21 and 24 October, 2014 at the Dalian World Expo Center.. The 10 Shiptec took place at the World Expo Center towards the end of 2012 and exceeded all previous events. In total 438 companies from 21 countries took part, showcasing their latest innovations on a gross exhibition area of 23


Cyprus Financial Crisis: Effect on Shipping Interests

Cypriot Transport Minister, Tasos Mitsopoulos, states the nation's shipping registry will not be affected by turmoil in banking sector. The Minister downplayed the impact of Cyprus's banking crisis on the local shipping industry, pointing out that none of the island's banks are active in ship financing, reports Tax-News. Despite Mitsopoulos's assurances, many shipping companies' bank deposits in Cyprus are expected to be heavily impacted by the banking sector developments


SFL Announces Sale of Three Older VLCCs

Front Opalia (Photo courtesy of SFL)

Ship Finance International Limited (SFL) announced that it has agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party. The company has simultaneously agreed to terminate the corresponding charter parties with a subsidiary of Frontline Ltd


London Shipping Professionals Weigh in for SPNL Report

Claudio Chiste & Gustav Ellingsen

The Shipping Professional Network London (SPNL) has  released their full Future London report, an initiative that gathered the views and opinions of London’s young shipping professionals on what needs to be done for London to retain and improve its position as a global maritime capital


Korea Pledges Full Supports for Shipyards

Korean shipbuilding and offshore plant industry to get full support

  Yoon Sang-Jick, Minister of Trade, Industry, and Energy (MOTIE) of Korea, held a meeting to check pending issues faced by Korean shipbuilding and offshore plant industry at Seoul Palace Hotel recently. The meeting was intended to examine current status of overseas and home industry and


SMM Finance Forum: ‘Banks are Lending Again’

Dr. Carsten Wiebers

For Dr. Carsten Wiebers, Global Head of Maritime Industries at KfW IPEX-Bank, and member of the SMM Advisory Board, innovative financing solutions are key to Europe's continued international competitiveness in maritime high technology. On September 8, 2014, or SMM Finance Day


SFL Acquires Two Containerships, Settles Bulker Claim

Ship Finance International Limited (SFL) has announced the agreement to acquire two 5,800 teu post-panamax container vessels built in 2001/2002 in combination with long-term charters. The vessels are expected to be delivered to SFL over the course of the next few weeks


Shiptec China 2014 Taking Shape

In just under seven months’ time, marine professionals from China and around the world will gather for the opening of Shiptec China 2014 at the Dalian World Expo Center. Taking place October 21-24, it is the 11th holding of this increasingly important event


SFL Files Annual Report

Ship Finance International Limited (SFL) announced  it has filed its annual report on Form 20-F for the year ended December 31, 2013.   The annual report can be downloaded from the company's website at www.shipfinance.org. Shareholders can also request a hard copy of our complete


Investors Snap Up Shipping Loans, Reflecting Growing Confidence

Calculator credit Dominic Alves CCL

Global private equity firm KKR has bought $150 million worth of shipping loans from two European banks amid a surge of interest in the industry as world trade in goods picks up along with the global economy. There have been a flurry of deals in recent months for ship finance loans


U.S. Maritime Advisory Panel Names 10 New Members

Official portrait of Secretary of Transportation Anthony Foxx.

U.S. Transportation Secretary Anthony Foxx today announced the appointment of 10 new members to the Marine Transportation System National Advisory Council (MTSNAC). Established in 2010, MTSNAC is comprised of leaders from commercial transportation firms, trade associations


Deadbeat Chinese Shipyards Stick Banks with Default Bill

Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time. One in three ships ordered from Chinese builders was behind schedule in 2013


Private Equity Boosts Liberia Shipping Market

Scott Bergeron

The Liberian Registry says the entry of private equity funding into the ship finance market is helping to sustain its continued growth. Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the Liberian registry, said


Shippers Turn to Equity Markets as Sector Eyes Recovery

Photo courtesy OW Bunker

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s. Ship owners ordered large numbers of vessels between 2007 and 2009


Shipping Turns From Banks to Equity Markets for Cash

File photo

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s. Ship owners ordered large numbers of vessels between 2007 and 2009


SFL Acquires Bulk Carriers; Charters Box Ships

Acquisition of two 82,000 dwt dry-bulk carriers and long-term charters for 8,700 teu container vessels nnounced by Ship Finance International (SFL). Ship Finance International Limited announced the agreement to acquire two 82,000 dwt Kamsarmax dry-bulk carriers built in 2012


KfW IPEX-Bank Finance For 2nd Star Cruises' Ship

  With a loan of EUR 600 million, KfW IPEX-Bank is financing the construction of a second cruise ship for Star Cruises, the leading cruise line in Asia, at the Meyer Werft shipyard in Papenburg. The signing ceremony of the relevant contracts took place today in Hong Kong






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright