Ship Finance International Ltd. (SFL)

All Comments on SFL

  • commenter
    notsosmart
    Sep 18 12:54 PM
    My Website
    Ship Finance: Record Breaking Transaction Is Impressive in Today's Market [view article]
    more or less,oil has to move.nobody has figured out how to pave over the ocean.the dividends have paid for my FRO stock.the ceo gets no pay-just dividends.would that all corps. be run lke that. Reply
  • commenter
    thefuture007
    Sep 18 10:41 AM
    My Website
    Ship Finance: Record Breaking Transaction Is Impressive in Today's Market [view article]
    Great Technical Advice...But adding in a " Real World ISSUE".All dividend paying stock,Muni's..ETC are also looking at a Possible Democratic Victory.Their Candidate wants to Raise TAXES on those Capital Gains/Dividends.Tradin... of these stocks on Technicals is one thing,Investing for the Longer term another.I see many of the Huge Momentum moves being Exacerbated by the Possibility of that Scenario..Higher TAXES.I Agree the Yield is Great here but when doing due diligence for income pls Factor in Higher tax rates for them and see where that puts your Analysis.
    theres ways to play and add protection to that..the NEW ETF.."SEA" has exposure to this sector,playing it as a Short Hedge and buying some of the stocks..SFL etc.In the basket can offer some Downside protection as would buying "PUTS".
    The EU has so far Excluded Shippers form the current CAP and Trade Requirements coming in Europe,that could change and the USA is working on that issue,would it include the Shippers/ SFL.?
    Also stockpiles in China or Iron ore are ok...so far
    the Aggregate Reports say grains are sufficient,for prices,shipping.
    The Basis for SFL is on Drilling,so far the USA is pondering Several "OFF-Shore" drilling plans..one won't allow with-in 50 miles..2 other plans will,I Believe passage of the most Comprehensive plan will add more " Long-Term" Value to SFL's buisness model,and others.If the plan that doesn't allow Drilling with-in 50 miles passes...then that lowers the amount of area,off USA waters to be Drilled ,thus less Rigs needed Scenario and more competition with..RIG, NOV..ETC.
    Do Bottom line to me is..Wait for analysts meeting,send them the above questions I've Raised vs competitors,see their answers.
    Wait to see what energy plan passes may be a better entry point/higher Yields to offset the higher TAX Scenario's.Happy Trails.     Reply
  • commenter
    LJ24
    Sep 18 09:28 AM
    My Website
    Ship Finance: Record Breaking Transaction Is Impressive in Today's Market [view article]
    Shorted this on 9/4, got my 20% gain, so yes it may be a buy now, but the short was much better timed.

    Analysis from 9/4:

    Swing Trader: Ship Finance International has rough seas ahead, drowning shares

    Ship Finance Int’l has weathered the storm seen for the oil shippers and dry bulk shippers as commodity prices have crashed recently, and we feel that the easy ride is over and investors will begin to take notice of some fundamental and macroeconomic issues surrounding the company. Shares could see as much as a 20% decline in coming months as valuation multiples are contracted for the entire shipping industry.

    Ship Finance International Limited, through its subsidiaries, owns and operates vessels and offshore related assets, and is focused on both oil transportation and dry bulk shipments. The company is a result of a spin-off from Frontline (FRO), which also looks like a weak stock in the environment.

    Although some feel that SFL’s business model is “bullet proof” we think that the continued expansion of fleets may contract margins as empty ships sit around with the slowing demand wave crashing down on the dry bulk and oil shipping sectors.

    The company had negative EPS growth this year of -7.23% and is expecting to see -10.36% declines in EPS next year. It is beginning to look like the growth story is done with this stock, and that a P/B multiple of 2.95 is overvaluing shares. There are also concerns fundamentally, with a long term debt-to-equity ratio of 3.36. Paying a generous dividend yield of 8.5% could be a cause for concerns if the company is unable to pay for its leased vessels as cash flow growth subsides.

    We are looking to short shares on a fall below the $27 support level as selling volume has recently increased and we see declining MACD, RSI, and stochastics. The 200 day EMA is at $26.80 and a break below that level could send shares to our initial target price of $25, which may be followed by a move to $22.50. We will have a stop order at $28.75 which would negate the current downtrend.

    This is a short term trade because the long term picture shows a stock that is paying a very high dividend yield and has a history of distributing excess cash flows. We intend to be out of this trade by the Annual Meeting on 9/19, where management could once again raise the dividend due to recent ship sales.
    Reply
  • commenter
    lee99
    Sep 18 07:36 AM
    Ship Finance: Record Breaking Transaction Is Impressive in Today's Market [view article]
    SFL is one of the John Fredrickson companies. They are truly unique in that earnings are distributed as dividends. The mainstay is Frontline, FRO, not the pet pesticde. There are about a dozen others that deal in transportation, food production, deep sea drilling, etc. I've owned them for years and am much better off for it. I believe that Mr F has a business model that should be emulated globally. He, unlike most CEO's, has a stake in his companies. If they do well, so does he and his shareholders. If they do badly he doesnt get paid. He owns roughly 40% of stock in all of them. Reply
  • commenter
    einstein p
    fleet
    Sep 12 10:54 PM
    My Website
    Ship Finance International: Cruising on Profits [view article]
    Sooner or later, China has to eat, heat, and meet political expectations.

    NAT, FRO, DSX.

    Big dividends to offset the pain, especially at these prices. Or, you could buy the preferred stock at Fannie or Freddie --- or not.     Reply
  • commenter
    wocojoe
    Aug 26 04:46 PM
    Ship Finance International: Cruising on Profits [view article]
    FRO, SFL, and SDRL.pk all part of one man's holdings, a very smart Swedish Billionaire. If only we were so smart. He expands his businesses and then spins them off with paying dividends. He has been consistently successful in this strategy of Growth, spinoff and dividends. Reply
  • commenter
    User 13958
    Aug 25 08:42 AM
    Ship Finance International: Cruising on Profits [view article]
    SFL dividends---I love it---,almost like "sweet flow income like gentle waves"!
    Once it drops, start buying again.     Reply
  • commenter
    BxCapricorn
    Aug 24 05:19 PM
    Ship Finance International: Cruising on Profits [view article]
    Let me add that they are actually at the top of my stock model range, and I will buy them under $23.50, and sell them at $28. I agree that buy-and-hold investors can't miss with their dividend, but people don't care about dividends like they used to (i.e. AYR, GLS, FRO). I attribute this to day-trading, options, and other riverboat gambling personalities now involved with stocks. Reply
  • commenter
    BxCapricorn
    Aug 24 05:10 PM
    Ship Finance International: Cruising on Profits [view article]
    I really was disappointed that you "outed" this company. I really don't need other investors pushing the value of SFL back to some kind of normalcy, when they should be plowing their money into retail, airlines, financials, and commercial real estate. Focusing on FCF in a world faced with an ever worsening "credit crunch" is logical, and I'll be damned if I allow a Seeking Alpha contributor to so boldly "makes sense". Give me the contributor that predicted $30/barrel oil last week any day. Note: I almost laughed myself into a life-threatening condition after reading that guy's article. I deleted the link to the previously mentioned article, as a needed step towards self-preservation. In short, the first rule of "Solid Investing Club", we never mention "Solid Investing Club". Reply
  • commenter
    old trader
    Jul 27 01:09 PM
    My Website
    A New Way for Investors to Sail the Seas [view article]
    Elliot,

    I'd agree with your assesment, but isn't that the point of an ETF? Allowing an investor to make a "sector bet", without having to decide, for example, if tanker companies relying on the spot market are "smarter" than those that rely on long term charters?

    An ETF such as this would allow an investor to play a "macro" theme, (such as growing global trade), while possibly increasing portfolio performance by making judicious investments on individual securities. (For example, buying shares in tanker companies relying on spot markets, if one's analysis on conditions lead one to believe the spot market would be strong over the next 1-2 years).

    Just sayin'....

    old trader     Reply
  • commenter
    Elliot
    Miller
    Jul 27 11:37 AM
    A New Way for Investors to Sail the Seas [view article]
    One problem with the analysis is that it does not take into account the individual characteristics of the companies. There are dry bulkers, wet tankers, LNG tankers and container ships all included in the chart. Within each group there are differences (for example EGLE's fleet is Supramx and Handymax, while GNK's includes Panamax and Capesize) and between groups there are differences (dry bulkers react to the BDI, most tankers are in pools that share profits, etc.). The rate of new building underway is greater for tankers and containers than for dry bulkers and within the dry bulk sphere the rate of new buildings is lower for Supramax than for Capesize and Panamax. Also different is the mix between charter lives and spot. Some, like Frontline, are highly exposed to spot prices. Many dry bulkers have 3-5 year charters and Sea Span has every vessel on the water and in construction subject to 11 year charters (in the case of new-builds, beginning when they are completed).
    In short, shipping is too varied an industry to present as a monolith,without differentiation by company and function.     Reply
  • commenter
    mikehav
    Jul 27 11:11 AM
    My Website
    A New Way for Investors to Sail the Seas [view article]
    I don't own any of the shares and all of the research was done by me as a new ETF idea, as with all of the other ETF ideas I have posted. Reply
  • commenter
    NEH
    Jul 27 11:04 AM
    A New Way for Investors to Sail the Seas [view article]
    Mike, first, some ownership disclosure please. Second, is this chart from another source, or did you assemble it yourself? Reply
  • commenter
    The
    pessimistic
    optimist
    Jul 21 06:19 PM
    Ship Finance Int'l: Steady Income in a Volatile Sector [view article]
    I am hearing the registers ( notice I was plural) ring. I have NAT, until this mroning I played hard with FRO and will come back with a slight pull-back. If it drops one dollar I will pull the trigger again. I will also pounce on SFL possibly by week's end. There we will remain long. Though volatle as mentioned, very worthy dividends dancing on the backs of reduced share pricing. Reply
  • commenter
    Tim Plaehn
    Jul 21 03:47 PM
    My Website
    Ship Finance Int'l: Steady Income in a Volatile Sector [view article]
    Remember the higher yielding tanker companies like FRO, NAT and I believe TNK earn their rates on the spot market and the dividends fluctuate hugely. This last quarter ($2.75)was the highest dividend for FRO since they paid $3.10 in Q1, 2005. SFL is a more conservative play, having first call on much of FRO's revenues and a 20% profit share above a certain revenue level. Reply
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