SFL - New charter for jackup drilling rig
May 04 2017 - 7:45AM
Ship Finance International Limited (NYSE: SFL)
("Ship Finance" or the "Company") today announced that it has
agreed to bareboat charter out the 2007-built drilling rig Soehanah
to be employed under a drilling contract with a national oil
company in Asia for a period of 12 months, with an option to extend
the charter by an additional 12 months. The rig was redelivered to
us in April, following a full 10-year special survey paid for by
the previous charterer, and with certificates valid until 2022. The
net EBITDA is expected to be approximately $4m during the fixed
period of the charter, and the rig is now being mobilized with
expected startup of the drilling operations in the second quarter
of 2017.
May 4, 2017
The Board of DirectorsShip Finance International
LimitedHamilton, Bermuda
Questions can be directed to Ship Finance
Management AS:
Investor and Analyst Contacts: Harald
Gurvin, Chief Financial Officer, Ship Finance Management AS +47 23
11 40 09 André Reppen, Senior Vice President, Ship Finance
Management AS +47 23 11 40 55
Media Contact: Ole B. Hjertaker, Chief
Executive Officer, Ship Finance Management AS +47 23 11 40 11
About Ship Finance
Ship Finance International Limited (NYSE: SFL)
has an unprecedented track record in the maritime industry, being
consistently profitable and paying dividends every quarter since
2004. The Company's fleet of more than 70 vessels is split between
tankers, bulkers, container vessels and offshore assets, and Ship
Finance's long term distribution capacity is supported by a
portfolio of long term charters and significant growth in the asset
base over time. More information can be found on the Company's
website: www.shipfinance.bm
Cautionary Statement Regarding Forward
Looking Statements
This press release may contain forward looking
statements. These statements are based upon various assumptions,
many of which are based, in turn, upon further assumptions,
including Ship Finance management's examination of historical
operating trends. Although Ship Finance believes that these
assumptions were reasonable when made, because assumptions are
inherently subject to significant uncertainties and contingencies
which are difficult or impossible to predict and are beyond its
control, Ship Finance cannot give assurance that it will achieve or
accomplish these expectations, beliefs or intentions. Important
factors that, in the Company's view, could cause actual results to
differ materially from those discussed in this presentation include
the strength of world economies and currencies, general market
conditions including fluctuations in charter hire rates and vessel
values, changes in demand in the tanker market as a result of
changes in OPEC's petroleum production levels and worldwide oil
consumption and storage, changes in the Company's operating
expenses including bunker prices, dry-docking and insurance costs,
changes in governmental rules and regulations or actions taken by
regulatory authorities, potential liability from pending or future
litigation, general domestic and international political
conditions, potential disruption of shipping routes due to
accidents or political events, and other important factors
described from time to time in the reports filed by the Company
with the United States Securities and Exchange Commission.
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