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.
Pangaea Logistics Solutions (Nasdaq: PANL) and M.T. Maritime Management (MTM) announced a definitive agreement to merge fifteen handy-size dry bulk vessels into Pangaea's fleet. The vessels, valued at approximately $295 million with related financing of $102 million, result in a net asset value of $193 million. Pangaea will issue roughly 19 million shares to SSI, representing 29% of its outstanding stock. The transaction, expected to close in Q4 2024, will expand Pangaea's fleet by nearly 60% to 41 vessels. The merger is anticipated to enhance growth, efficiency, and profitability, with MTM's experienced team joining Pangaea. The deal is expected to be accretive to earnings and maintain financial flexibility. SSI will designate two board members post-transaction.
SFL (NYSE: SFL) has successfully placed NOK 750 million senior unsecured bonds due September 25, 2029. The bonds will pay a quarterly coupon of the 3-month NIBOR + 3.25% per annum. Net proceeds will be used to call the outstanding amount of the company's existing NOK 600 million senior unsecured bonds maturing in January 2025 and for general corporate purposes.
Arctic Securities, DNB Markets, and SEB acted as Joint Bookrunners, while Fearnley Securities and Pareto Securities were co-managers. SFL has notified Nordic Trustee AS of its intention to exercise the call option to redeem all outstanding Existing Bonds.
SFL (NYSE: SFL) has initiated a series of fixed income investor meetings, potentially leading to a NOK denominated senior unsecured bond offering. The company has engaged Arctic Securities, DNB Markets, and SEB to arrange these meetings. The net proceeds from any bond issuance are intended for refinancing the existing NOK 600 million senior unsecured bonds maturing in January 2025 (ISIN NO0010872997) and for general corporate purposes.
SFL plans to offer conditional buybacks of the existing bonds in conjunction with the new bond offering. If the new bond issuance is completed, SFL intends to call any remaining outstanding amounts of the existing bonds at the prevailing call price. This financial move aims to restructure SFL's debt and potentially improve its capital position.
SFL (NYSE: SFL) has announced its preliminary second quarter 2024 results presentation, scheduled for August 14, 2024. The company, which specializes in maritime and offshore assets, will provide insights into its financial performance and operational highlights for the quarter ended June 30, 2024. Investors and analysts are encouraged to review the presentation, which likely includes key financial metrics such as revenue, earnings per share, and guidance for future periods. The presentation may also cover SFL's fleet performance, market conditions, and strategic initiatives impacting the company's growth and profitability.
SFL announced its Q2 2024 results, declaring its 82nd consecutive quarterly dividend of $0.27 per share. The company reported a net profit of $20.6 million, or $0.16 per share, and received charter hire of $198.8 million. SFL's adjusted EBITDA reached $123.3 million from consolidated subsidiaries, plus $7.8 million from associated companies.
Key highlights include new five-year time charters with Maersk, adding approximately $485 million to the backlog, delivery of new vessels, and a newbuild order for five LNG dual-fuel container vessels. The company's charter backlog now stands at nearly $5 billion. SFL also raised $100 million through a public offering of 8 million common shares after the quarter's end.
SFL (NYSE: SFL) has announced the upcoming release of its Q2 2024 financial results on Wednesday, August 14, 2024. The company will host a conference call and webcast for stakeholders and interested parties on the same day at 10:00 AM (EST) / 4:00 PM (CET). Participants can access the event through two options:
1. Join the conference call webcast in listen-only mode via the company's website or direct link.
2. Join the conference call and participate in live Q&A through Zoom using the provided meeting ID and passcode.
A replay of the conference call will be available on SFL's website. Relevant materials will be accessible in the Investor Relations section of the company's website on the day of the event.
SFL (NYSE: SFL) has priced its public offering of 8,000,000 common shares at $12.50 per share. The net proceeds will be used for general corporate purposes, including potential vessel acquisitions. The company has granted underwriters a 30-day option to purchase up to an additional 1,200,000 shares. Morgan Stanley is acting as the sole bookrunning manager, with BTIG, as lead manager. The offering is being made through a prospectus supplement and accompanying base prospectus, with a registration statement filed and effective with the SEC.
SFL (NYSE: SFL) has announced a public offering of 8,000,000 common shares, with an option for underwriters to purchase an additional 1,200,000 shares. The net proceeds will be used for general corporate purposes, including vessel acquisitions. Morgan Stanley is acting as the sole bookrunning manager, while BTIG, is the lead manager for the offering. The offering is being made through a prospectus supplement and accompanying base prospectus, with a registration statement already filed and effective with the SEC. This announcement does not constitute an offer to sell or solicitation of an offer to buy these securities in jurisdictions where it would be unlawful.
SFL has secured new five-year charters for four 8,700 TEU container vessels, extending their partnership with A.P. Moller-Maersk. These agreements will add around $240 million to SFL's fixed rate charter backlog. The current charters, initially set to expire in 2025, will now extend to 2030. Built between 2014-2015, these vessels will undergo upgrades costing approximately $20 million to increase cargo capacity to 9,500 TEU and enhance energy efficiency. This move aligns with SFL’s customer-focused strategy and aims to optimize operational performance and reduce emissions, benefiting both SFL and Maersk. The company has added nearly $2 billion to its fixed rate charter backlog in 2024.
SFL (NYSE: SFL) has announced the construction of five 16,800 TEU container vessels with LNG dual-fuel propulsion, set to be delivered in 2028. The project will cost approximately $1 billion. The vessels will feature advanced fuel efficiency and cargo intake optimization. Concurrently, SFL has secured 10-year minimum time charters for these vessels with a leading liner company, expected to add $1.2 billion to SFL's charter backlog. The charters include options for two-year extensions and purchase options at the end of years 10 and 12, with a profit-sharing feature. CEO Ole B. Hjertaker highlighted this investment as a milestone, adding that the acquisitions and charter extensions announced this year have increased SFL's fixed-rate charter backlog by approximately $1.75 billion.