Ship Finance International is putting more of itself on the market.

The John Fredriksen-controlled diversified shipowner approved authorising 50 million more shares, bringing the number of authorised units to two million, a Securities and Exchange Commission shows.

Each share, trading up 0.5% to $13.88 on the New York Stock Exchange, has been assigned a par value of $0.01.

The company's market capitalisation is $1.59bn.