Ship Finance reports second quarter cash, equivalents of $89 million

By Aleesia Forni

Columbus, Ohio, Aug. 25 - Ship Finance International Ltd. reported cash and cash equivalents of $89 million as of June 30, compared to $54.5 million in the same quarter of the previous year, during the company's second quarter earnings conference call.

The company also reported a total liquidity of $113 million, including amounts available under its revolving credit facility.

Ship Finance has no refinancing requirements in the short term and is in compliance with all its covenants.

The company has announced a quarterly cash dividend of $0.39 per share.

Net income for the quarter was $41.5 million. This includes an accrued profit share of $0.2 million.

"We are ... well positioned for continued selective growth within our core segments, while always maintaining our conservative profile," said chief executive officer, Ole Hjertaker.

Ship Finance is a Bermuda-based owner and operator of vessels, including crude oil tankers, container vessels and drybulk carriers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.