Business Context and Reporting Period
This Form 6-K filing by Ship Finance International Limited (SFL) covers the month of March 2009. The filing serves to announce the submission of the Company's annual report on Form 20-F for the fiscal year ended December 31, 2008. SFL is a major ship owning company listed on the NYSE, operating a fleet of 68 vessels including crude oil tankers, container vessels, and drilling units, most of which are employed on long-term charters.
Key Financial Metrics
The filing text does not provide specific financial values for revenue, profit, cash flow, margins, debt, or liquidity for the period ended March 31, 2009, or the fiscal year ended December 31, 2008. This document is a procedural notice directing investors to the attached Form 20-F for audited financial statements.
Material Changes
The filing notes a procedural change in the Company's filing status with the SEC in connection with the 2008 annual report. Consequently, the current shelf registration statement and other active SEC filings will be amended over the following weeks. The Company explicitly states that these amendments do not represent a new offering of common stock or other securities.
Guidance, Outlook, and Risks
The press release includes a cautionary statement regarding forward-looking statements, noting that actual results may differ materially due to various uncertainties. Key risk factors identified include:
- Strength of world economies and currencies.
- General market conditions, specifically fluctuations in charter hire rates and vessel values.
- Changes in demand in the tanker market driven by OPEC production levels and global oil consumption.
- Operating expense volatility, including bunker prices, dry-docking, and insurance costs.
- Governmental regulations and potential liability from litigation.
- Political conditions and potential disruption of shipping routes.
Investor Verification Checklist
- Verify the specific financial results (revenue, net income, EBITDA) in the Form 20-F for the year ended December 31, 2008, as they are not included in this 6-K.
- Confirm the status of the Company's shelf registration statement amendments mentioned in the filing.
- Review the full fleet composition and charter status details available on the Company's website (www.shipfinance.org).
- Assess the impact of the 2008-2009 global economic downturn on the Company's long-term charter contracts and vessel valuations.