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Ship Finance International (SFL -4%)) agrees to sell its 20-year old combination carrier Front...

Ship Finance International (SFL -4%)) agrees to sell its 20-year old combination carrier Front Rider to an unrelated third party, while simultaneously agreeing to terminate the corresponding charter party with a subsidiary of Frontline Ltd (FRO -7.7%). SFL will receive approximately $10.2M, including a $500k charter termination compensation payment from FRO, and book gain of approximately $1.7M in Q312.
Comments (3)
  • montanamark
    , contributor
    Comments (1435) | Send Message
     
    sounds like good news for SFL in this economy
    4 Jun 2012, 02:33 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3080) | Send Message
     
    Definitely good news for Ship Finance though the question on Frontline is how far downsizing will go. At the very least Ship Finance should be able to maintain their dividend in the future.
    4 Jun 2012, 02:42 PM Reply Like
  • PappyAthen
    , contributor
    Comments (9) | Send Message
     
    The managment at Ship Finance knows what they are doing. I think stock price will be back to $23.00 a share by the end of 2013.
    4 Jun 2012, 10:57 PM Reply Like
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