Bermuda-based Ship Finance International Ltd posted a profit of $41.5 million or 52 cents per share during the second quarter.That included an accrued profit share of $200,000 over that period compared to $2.3 million in the first quarter of this year.The company’s board of directors also declared a quarterly dividend of 39 cents per share the 30th consecutive quarter it has paid a dividend to be paid on or about September 29, 2011 to shareholders of record as of September 9, 2011.Meanwhile two old combination carriers and a jack-up drilling rig were sold in the quarter with an aggregate gain on sales of approximately $9.9 million.The company took delivery of the second 2010-built 13,800 teu container vessel to CMA-CGM with a 15-year time charter, and contracted four newbuilding 4,800 teu container vessels in the quarter. Delivery is scheduled in 2013 and the vessels have already been chartered out for seven years from delivery.The company reported total US GAAP operating revenues on a consolidated basis of $73.8 million or 93 cents per share in the second quarter of 2011. This number excludes $25 million of charter hire classified as ‘repayment of investments in finance lease’, and also excludes $104.3 million of charter revenues earned by assets classified as ‘investment in associate’.The reduced profit share was a result of a continued weak tanker market in the second quarter. The company recorded a gain on sale of assets of $9.9 million in the quarter, including $4.1 million classified as ‘gain on sale of associate’ related to the sale of a jack-up drilling rig accounted for as ‘investment in associate’.Reported net operating income pursuant to US GAAP for the quarter was $44.6 million, or 56 cents per share.Ole Hjertaker, CEO of Ship Finance Management AS, said: “This has been another active quarter for the company, where we have taken delivery of a 13,800 teu container vessel, contracted four newbuilding 4,800 teu container vessels and sold one jack-up drilling rig and two older combination carriers. We have also sourced financing for the whole newbuilding program, where net proceeds from the financing will exceed remaining instalments.”He continued: “We continue to develop our fleet and backlog of fixed rate charters, which as of June 30, 2011 was approximately $6.9 billion, and with more than 11 years of remaining charter term if weighted by charter revenue. The company has a strong balance sheet and the recently announced financing demonstrate our premium access to the capital markets. We are therefore well positioned for continued selective growth within our core segments, while always maintaining our conservative profile.”