Ship Finance International today reported net income of $51 million in the fourth quarter of 2012, an increase of 46 percent from $35 million in the third quarter of 2012.
Quarterly charter revenue, which includes total charter hire from all vessels and rigs, was $168 million, a drop of 6 percent from $179 million in the previous quarter.
For the full year of 2012, the ship-owning company showed profit of $186 million, a jump of 42 percent from 2011. Annual charter revenue was $716 million, compared with $784 million in 2011.
“We believe that Ship Finance is well positioned with a strong balance sheet to selectively pursue new investments,” said Ole B. Hjertaker, company CEO, in a written statement. “We acquired two car carriers in the fourth quarter, and are actively reviewing other investment opportunities across our main market segments.”