Ship Finance Management As News

The international ship owning and chartering company Ship Finance International Limited (SFL) announced 60th consecutive quarterly dividend declared, $0.35 per share for the quarter ended December 31, 2018.Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "The strength of SFL's business model has been repeatedly proven over 60 consecutive quarters of profitability and dividends. This has been achieved over multiple shipping cycles, and we have been able to accomplish this by taking a very active approach to structuring our investments and managing our balance sheet.""The proceeds from total charter hire was $160m in the quarter from our 100% owned vessels and rigs…

Ship Finance International,  affiliated with the shipping magnate John Fredriksen, has acquired two 2016-built 19,400 TEU container vessels and contracted the vessels until late 2033, or for nearly 15 years, to a leading container line on long term bareboat charters.The contracts increase the Company's fixed rate charter backlog by nearly $470 million, and the charterer has agreed to purchase obligations at the end of the charter period, effectively eliminating residual risk. Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "This new acquisition broadens our relationship with one of the world's largest liner companies.

Bermuda-based Ship Finance International (SFL) has entered into lease financing agreements totaling $270 million with an Asian-based institution to finance three 10,600 TEU container vessels acquired in 2018.The vessels are employed under long term time charters to Maersk Line A/S  until 2024, with options to extend the charters by up to four additional years, the ship owning and chartering company said.Each Lease Financing has a term of more than 10 years, with an option to purchase the vessel back after six years, at expiry of the firm period of the charters to Maersk. A portion of the proceeds from the Lease Financings have been used to refinance the $200 million loan facility arranged at the time of the acquisition.The interest rate of the Lease Financings is very attractive…

Bermuda-based shipowner Ship Finance International (SFL) has entered into lease financing agreements totaling $400 million with an Asian-based institution to finance four 14,000 TEU container vessels acquired in May 2018.According to a press release, the vessels are employed under long term time charters to Evergreen Marine Corporation (Taiwan) until 2024, with options to extend the charters by 18 additional months.Each Lease Financing has a term of nearly nine years, with an option to purchase the vessel back after six years, around expiry of the firm period of the charters to Evergreen. A portion of the proceeds from the Lease Financings…

Ship Finance International Limited said it has agreed to acquire three large containerships in combination with long term time charters.The vessels were built in 2015 with approximately 10,600 TEU carrying capacity. The company expects to take delivery of the vessels in the near term, and the purchase price is confidential.The charters will run for a period of minimum six years, with options for the charterer to extend the charters up to 10 years. There is also a purchase option with profit split at the end of the initial period. Ship Finance International’s fixed rate charter backlog will increase by approximately $260 million, increasing to approximately $430 million if the charter extension options are exercised.

Ship Finance International Limited announces that it has agreed to sell the 2007-built jack-up drilling rig Soehanah to an unrelated third party and three 2002-built VLCCs to ADS Crude Carriers Ltd., a newly established company in which Ship Finance has acquired a 17 percent interest.Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment, "Divesting of older vessels is a part of the company's strategy to renew and diversify the fleet. Over the last three months, Ship Finance has taken delivery of 19 vessels with long-term charters, increasing our fixed charter backlog by nearly $600 million. We see further growth opportunities across our target market segments…

Ship Finance International Limited (SFL) informs it has agreed to acquire four large container vessels in combination with long-term time-charters to a leading container line.The vessels are modern eco-design built in 2014 with approximately 14,000 TEU carrying capacity. The company said it expects to take delivery of the vessels in the near term, and the purchase price is confidential.The time-charters to a leading Asia-based container line run until 2024, with options to extend the charters by 18 months. SFL’s fixed-rate charter backlog will increase by nearly $450 million, and the EBITDA contribution from these new vessels is estimated to approximately $60 million per year.The consideration to the sellers will be cash plus approximately 4 million newly issued shares in Ship Finance.

Ship Finance International Limited announced that it has agreed to acquire a fleet of 15 feeder size container vessels, ranging from 1,100 TEU to 4,400 TEU, in combination with long term bareboat charters to a leading container line. The purchase price is confidential, but close to recycling value of the vessels. The charter term will be seven years from delivery, with subsequent purchase obligations by the charterer. Delivery of the vessels is expected in April and their aggregate EBITDA contribution is estimated to be approximately $20 million per year. Concurrently, the Company has agreed to sell the 1,700 TEU container vessel SFL Avon to an unrelated third party. This vessel has been operated in the short term charter market and net sales proceeds will be approximately $12.5 million.

Ship Finance International  announced net income of $20 million and $152 million of total charter revenues for the fourth quarter ended December 31, 2017. The company continued renewal of the fleet with the divestment of an older crude oil tanker vessel, said a press release. It said that improving market conditions led to first profit share income from eight Capesize dry bulk carriers on long term charters. Ole B. "This significantly enhances our financial profile, allowing us to further our focus on growth. We have been actively evaluating investment opportunities and expect to see new projects materialize later this year," Ole added.

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter. The company reported net income of $38.81 million down from $46.8 million in the year-ago quarter. Ship Finance's total operating revenues dipped from $117.58 million to $103.99 million and came in below the analysts' predictions of $110.43 million. The firm continued fleet renewal with the successful delivery of our third 9,300 - 9,500 TEU newbuilding container vessel on long term charter to Maersk Line and sale of an older VLCC. Ole B. Hjertaker, CEO of Ship Finance Management AS…

Ship Finance International Limited has acquired three 9,000 teu capacity container ships that are under construction from an unrelated third party. The Fredriksen-led company said that the three vessels are currently being constructed to a fuel-efficient design at an undisclosed yard. Delivery is expected between the last quarter of this year and the first quarter 2016. The boxships have similar technical specifications as our recently delivered 8,700 TEU container vessels, with the latest in eco-design features giving them a very competitive operational performance. The vessels have been chartered out for a minimum period of five years to a leading European-based container line, with options to extend the charter period by up to two years.

Ship Finance International Limited (SFL) announced that it has entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd. The company currently has 17 vessels on charter to subsidiaries of Frontline, with an average remaining charter term of nearly eight years. The new agreement will take effect from July 1, 2015 and will be a combination of reduced long-term base rates, increased profit split and an ownership share in Frontline. The operating expenses…

Ship Finance International Limited today announced the agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited ("Golden Ocean"). The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013. The total acquisition price will be $272 million, or $34 million on average per vessel. The vessels are expected to be delivered to Ship Finance within July 2015, subject to customary closing conditions. The vessels will be chartered on a time-charter basis to a subsidiary of Golden Ocean for a period of 10 years. The daily base charter rate will be $17,600 during the first seven years, and $14,900 thereafter.

Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today. The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013. The total acquisition price will be $272 million, or $34 million on average per vessel. The vessels are expected to be delivered to Ship Finance within July 2015, subject to customary closing conditions. The vessels will be chartered on a time-charter basis to a subsidiary of Golden Ocean for a period of 10 years. The daily base charter rate will be $17,600 during the first seven years, and $14,900 thereafter.

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, in combination with long-term time-charters to a state-owned Chinese charterer. The vessels are expected to be delivered to SFL within the next two months, and the aggregate annual EBITDA contribution from the vessels is estimated to approximately $7 million on average during the 8-year charter period. The Company is also pleased to announce long-term time-charters for four 8,700 teu newbuilding container vessels, currently under construction in Korea.

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, and the annual EBITDA contribution is estimated to be approximately $5.5 million on average during the charter period. The charters include a purchase option with profit share after five years. Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment, "Similar to the acquisition of the seven 4,100 teu container vessels last week, the acquisition of these additional 5,800 teu container vessels were also sourced from the German KG market.

Ship Finance International Limited (SFL) announced that it has agreed to acquire seven 4,100 teu container vessels built in 2002 in combination with long-term charters to a leading container line operator. The vessels are expected to be delivered to SFL over the course of the next few weeks, and the annual EBITDA contribution is estimated to be approximately $10 million on average during the charter period. The charters include a purchase option with profit share after approximately 5.4 years on average. Ole B. Hjertaker, CEO of Ship Finance Management AS, said, "This transaction originates from the German KG market, and while the exact terms of the deal is confidential, the acquisition price is seen as very attractive.

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. The Board of Directors has declared a quarterly cash dividend of $0.39 per share, and Ship Finance has now declared dividends for 39 consecutive quarters. The dividend will be paid on or about December 30, 2013 to shareholders of record as of December 12, 2013. The ex-dividend date will be December 10, 2013. The company reported total U.S. GAAP operating revenues on a consolidated basis of $68.1 million, or $0.73 per share, in the third quarter of 2013.

Ship Finance International (SFI)  has agreed to build four 8,700 TEU newbuilding container vessels at a major shipyard in Korea. The company says that the contract price is attractive and the vessels are scheduled to be delivered in 4Q 2014 and 1Q 2015. Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "We are very pleased to further expand our presence in the segment with these state-of-the-art containerships. The vessels will be built to very high specifications, and will include the latest in eco-design features giving them a very competitive operational performance. Ship Finance is a major ship owning company listed on the New York Stock Exchange.

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. Expected delivery of the vessels will be in October and November 2012. The funding of the vessels will be a combination of equity and loans, and Ship Finance has already received indications for 70% financing of the purchase price at favorable terms.

Ship Finance International Limited (NYSE:SFL) has agreed to terminate chartering agreements with Horizon Lines, LLC relating to five of its vessels. Ship Finance will receive as termination compensation $40 million in second lien notes issued by Horizon Lines and warrants exercisable into ten percent of the common stock of Horizon Lines, Inc. as part of the restructuring outlined below. The 2,824teu vessels were built in Korea in 2006 and 2007, and have been chartered to Horizon Lines for an average of approximately 5 years. The original bareboat charter term was for 12 years, but following the termination of the Horizon Lines charters, Ship Finance will employ the vessels in the time-charter market instead.