Welcome to our dedicated page for Sfl Corporation news (Ticker: SFL), a resource for investors and traders seeking the latest updates and insights on Sfl Corporation stock.
SFL Corporation Ltd. (NYSE: SFL) is an international ship-owning and chartering company with a diversified fleet of tanker vessels, bulkers, container vessels, car carriers and offshore drilling rigs. The news flow around SFL often reflects developments across these segments, including charter activity, fleet renewal and capital allocation decisions.
On this page, readers can follow SFL news related to quarterly earnings releases, dividend declarations, asset sales and charter agreements. Recent announcements have covered preliminary results for multiple quarters, consecutive quarterly cash dividends, and details on how much charter hire is generated from shipping versus energy operations.
SFL’s updates also highlight fleet optimization, such as the sale and redelivery of older dry bulk and container vessels, efficiency upgrades on modern ships, and transactions involving Suezmax tankers. In the energy segment, news items describe the status of the harsh environment drilling rigs Linus and Hercules, including long-term contracts and periods when Hercules is warm stacked pending new employment.
Corporate governance and financing developments appear in SFL’s news as well, including annual general meeting results, board changes, share repurchase authorizations, and information about dividend reinvestment and at-the-market equity programs. Together, these items give investors and observers a view into how SFL manages its maritime infrastructure portfolio, charter backlog and shareholder distributions over time.
For anyone tracking the deep sea freight transportation and offshore drilling space, SFL’s news provides regular insight into contract coverage, asset mix, and the company’s approach to fleet renewal, upgrades and capital structure.
SFL Corporation Ltd. (NYSE: SFL) announced the sale of seven handysize dry bulk vessels to an Asian buyer for approximately $100 million. Expected net cash proceeds after debt repayment are over $50 million, with anticipated book gains exceeding $40 million. The vessels, each with cargo capacity between 32-34,000 dwt, have been in the spot market for five years due to limited long-term chartering opportunities. The sale, which will not affect the company’s charter backlog, is part of a strategy to reinvest in new assets.
SFL Corporation Ltd. (NYSE: SFL) has announced the acquisition of three Suezmax tankers with long-term charters to a leading commodity trading company. The 2019-built vessels feature modern eco-designs, including exhaust gas cleaning systems, and are expected to be delivered in Q4. This transaction will enhance SFL's backlog by approximately $140 million over a minimum five-year charter period, with potential profit-sharing on future vessel sales. CEO Ole B. Hjertaker highlighted the strategic nature of this acquisition amidst a soft tanker market, aiming for sustained growth.
The preliminary results presentation for SFL's second quarter of 2021 will take place on August 18, 2021. Key details and insights will be shared, allowing investors to gauge the company's financial performance. The results will provide vital information on revenue, expenses, and other financial metrics indicative of the company's market standing. Interested parties can access the presentation through the provided link.
For further insights, view the attached presentation outlining SFL's performance metrics and projections.
In its preliminary Q2 2021 results, SFL Corporation Ltd. reported operating revenue of approximately $116.8 million and a net profit of $19.5 million. The company declared its 70th consecutive quarterly dividend at $0.15 per share, payable on or around September 29, 2021. SFL secured $141.5 million in charter hire this quarter and committed nearly $700 million to investments in modern vessels, enhancing its carbon footprint in line with its ESG strategy. Key agreements include acquiring two container vessels with long-term charters to Maersk and Evergreen.
SFL Corporation Ltd. (NYSE: SFL) has announced long-term charters for two ultra-modern dual-fuel car carriers, utilizing liquified natural gas (LNG), with a leading Asia-based transportation company. The vessels, scheduled for delivery in Q1-Q2 2024, have a total construction cost of approximately $155 million. This deal adds over $200 million to the company's charter backlog, contributing to SFL's strategy of focusing on lower carbon footprint assets. Recently, SFL has also increased its charter backlog by more than $700 million through multiple vessel acquisitions.
SFL Corporation Ltd. (SFL) is set to release its preliminary financial results for Q2 2021 on August 18, 2021. A conference call and webcast will be conducted the same day at 10:00 AM (EST) / 4:00 PM (CET). Interested parties can access the webcast via www.sflcorp.com. Dial-in details for the call are +1 877 870 9135 (US) and +47 21 56 30 15 (international), with a conference ID of 9046128. A replay will be available for seven days. SFL has consistently paid quarterly dividends since its NYSE listing in 2004.
SFL Corporation Ltd. (NYSE: SFL) has announced the acquisition of two modern 14,000 TEU container vessels, which will be chartered to a leading container line. These eco-design vessels, built in 2013 and 2014, are expected to generate approximately $29 million in EBITDA annually until their existing charters expire in 2023 and 2024. The acquisition aims to enhance cash flow and aligns with SFL's ESG strategy by replacing older vessels. Net proceeds from the sale of older vessels to MSC are estimated at $40 million, which will be reinvested in the new vessels.
SFL Corporation Ltd. (NYSE: SFL) announced an amendment to its charter agreement with Seadrill for the West Hercules rig. The West Hercules will be contracted to an oil major into late 2022. SFL will receive approximately $64,700 per day until Seadrill's bankruptcy emergence and $60,000 per day thereafter, with a fallback rate of $40,000 during idle periods. Seadrill is expected to seek bankruptcy court approval for this agreement by September 2, 2021. SFL's corporate guarantee for the rig subsidiary's debt remains unchanged at $83 million.
SFL Corporation Ltd. (NYSE: SFL) has announced its agreement to acquire two modern container vessels with long-term charters to a leading container line. Built in 2013 and 2014, these eco-design vessels have a capacity of approximately 6,800 TEU. The acquisition will increase SFL's fixed-rate charter backlog by about $160 million and is expected to contribute approximately $22 million annually in EBITDA. Funding will be sourced from attractive financing and existing cash. This move reinforces SFL's strategy to expand its fleet and charter backlog.
SFL Corporation Ltd. held its 2021 Annual General Meeting on May 26, 2021, in Hamilton, Bermuda. The meeting featured the presentation of audited financial statements for 2020. Key resolutions passed included setting the maximum number of directors to eight, re-elections of several board members, the reappointment of auditors, and approval of director remuneration not exceeding $800,000 for the year 2021. SFL is recognized for its strong maritime industry presence, maintaining a quarterly dividend since its NYSE listing in 2004, with a fleet of over 80 vessels.
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