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Sep032013

08:33:02 am

Senegal President Dismisses Finance Minister In Cabinet Change









Including newbuildings, the Company has a fleet of 70 vessels, including 24 crude oil tankers (VLCC and Suezmax), two chemical tankers, 12 drybulk carriers, 19 container vessels (including eight newbuildings), two car carriers, six offshore supply vessels, two jack-up drilling rigs (including one newbuilding), two ultra-deepwater semi-submersible drilling rigs and one ultra-deepwater drillship. The fleet is one of the largest in the world and most of the vessels are employed on long-term charters. More information can be found on the Company's website: www.shipfinance.org Cautionary Statement Regarding Forward Looking Statements This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Ship Finance management's examination of historical operating trends. Although Ship Finance believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Ship Finance cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in this presentation include the strength of world economies and currencies, general market conditions including fluctuations in www.firstfinancialuk.com charter hire rates and vessel values, changes in demand in the tanker market as a result of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in the Company's operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission.








Sidiki Kaba, a former president of the International Federation for Human Rights , replaces Aminata Toure as justice minister after she was appointed Senegals second female prime minister on Sept. 1. We want our fellow citizens to feel that their living conditions have improved, Toure told reporters after the new appointments were announced. Senegals $14.3 billion economy is forecast to grow 4.3 percent this year and 5.1 percent in 2014, according to the African Development Bank . The country plans to sell $500 million of 10-year international bonds later this year, the International Monetary Fund said in June. Standard and Poors has a B+ rating on Senegalese debt, which is four levels below investment grade and on par with Zambia and Albania.




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