Ship Finance International Bullish on 2018
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. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "We have continued to take proactive measures to strengthen our balance sheet through the early conversion of a large portion of our convertible notes in the fourth quarter and the redemption of the remainder at maturity subsequent to quarter end."
"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 has a unique track record in the maritime industry, being consistently profitable and paying dividends every quarter since 2004.
The Company's fleet of around 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.
