Ship Finance reports lower earnings

Ship Finance reports lower earnings Ship Finance International Ltd., a Bermuda-based company traded on the New York Stock Exchange, reported second-quarter net profit of $39.5 million, compared with $43.4 million in the prior-year period.
   The lower results reflected lower gains from ship sales. The company earned $4.3 million in the most recent quarter from the sale of a tanker compared to $9 million from ship sales in the same period the prior year.
   Revenue was $96.5 million, up from $90.9 million in the prior-year period.
   The company noted that five ships it is chartering to Horizon Line for use in the U.S./Guam trade have all been delivered and commenced long-term charters with Horizon in the current quarter.