SFL Corporation Ltd. (SFL) announced that Borgarting Court of Appeal issued its judgment in the dispute between SFL’s rig-owning subsidiary and certain subsidiaries of Seadrill Ltd. following the drilling rig Hercules’ redelivery in December 2022. The court found that Seadrill breached the contract and ordered it to pay SFL’s subsidiary approximately NOK 525 million (approximately $55 million), including compensation, late payment interest and legal costs.
The judgment largely upholds the Oslo District Court’s February 2025 ruling, and the total payable increased as a result of accrued interest. SFL was awarded its full legal costs for proceedings before both courts. Either party may appeal to Norway’s Supreme Court within one month of service; an appeal can be heard only if the Supreme Court’s Appeals Selection Committee grants leave, which happens only in limited circumstances.
SFL Corporation Ltd. agreed to sell four 2014- and 2015-built LR2 product tankers and three 2019-built Suezmax tankers currently on time charters to Trafigura. Deliveries are expected in Q4 2026 and Q1 2027, and the existing charters will terminate when the vessels are delivered.
After profit share and repayment of associated debt, SFL estimates net cash proceeds of approximately $275 million in aggregate and an aggregate book gain of approximately $175 million. Ole B. Hjertaker, Chief Executive Officer of SFL Management AS, said SFL expects to reinvest the proceeds in new accretive investments to build long-term distribution capacity.
SFL Corp Ltd. (SFL) agreed to build two 93,000 cbm Very Large Ammonia Carriers, with aggregate yard construction cost expected to be approximately $216 million and delivery scheduled from the second quarter of 2028.
SFL also agreed long-term time charters to an oil major, adding a minimum of approximately $162 million to fixed-rate charter backlog. The initial charter period will be determined within the next six months, and the backlog may increase then; the charterer will have options to extend the time charters by up to four years. SFL said acquisitions and charter extensions announced so far in 2026 have added more than $1.3 billion to fixed-rate charter backlog.
SFL Corp Ltd. (SFL) reported the initial beneficial ownership of director James O'Shaughnessy on a Form 3. As of September 14, 2026 he holds 12,647 common shares directly and several grants of share options over common shares with exercise prices between $4.25 and $10.28 and expirations from May 2026 through February 2031. The options vest in equal annual installments over three years under the issuer's Share Option Scheme and become exercisable upon vesting.
SFL Corp Ltd. (SFL) extended charters for six 15,400 TEU container vessels with Hapag-Lloyd AG for an additional seven years, giving these ships firm charter coverage until 2035–2036 at fixed rates. The new time charter contracts add approximately $750 million to SFL’s fixed rate charter backlog, increasing the backlog to about $4.6 billion. Management notes that more than $1 billion has been added to charter backlog during 2026, supporting earnings visibility and long-term distribution capacity.
SFL Corp Ltd. (SFL) reports a strong turnaround for the six months ended June 30, 2026, moving to net income of $59.9 million from a loss of $30.4 million a year earlier, on largely flat revenues of $375.2 million. Operating income more than doubled to $121.6 million as vessel impairment charges disappeared and vessel/rig operating expenses and depreciation fell following prior-year asset sales.
Cash flow from operations was $122.4 million, while net debt remained high with total borrowings of $2.40 billion and cash of $113.1 million. SFL repaid a $150 million 2026 sustainability-linked bond and a $150 million secured term loan, refinanced Linus with a new $150 million revolving facility, and tapped $75 million of 2030 sustainability-linked bonds.
The company is expanding its fleet with five large dual-fuel container newbuildings and four LNG dual-fuel car carriers, bringing shipbuilding commitments to $936.8 million, plus additional rig and vessel upgrade commitments. New contracts include a Hercules drilling contract in Canada with an estimated value of about $170 million and multiple long-term charters for container and car carrier vessels. SFL paid cash dividends of $0.20 and $0.22 per share in the first half and declared another $0.22 per share in August 2026, while issuing shares via its DRIP and ATM programs.
SFL Corp Ltd. (SFL) reported solid preliminary results for the quarter ended June 30, 2026. Total operating revenues were $200.8 million and reported net income was $33.8 million, or $0.25 per share. Adjusted EBITDA was $130 million, including $8 million from associated companies.
The Board declared SFL’s 90th consecutive quarterly dividend of $0.22 per share, payable on or around September 22, 2026, to shareholders of record on September 9, 2026. As of June 30, 2026, the contracted fixed-rate charter backlog was approximately $3.8 billion with a weighted remaining term of 6.2 years, and about 65% of this backlog is with investment-grade customers.
SFL continued to renew and grow its fleet employment. Two 6,500 ceu PCTCs, SFL Conductor and SFL Composer, were fixed on new three-year time charters, adding about $83 million to firm backlog. The company ordered four 7,000 ceu LNG dual-fuel PCTC newbuilds for about $363 million, with two fixed on five-year time charters, increasing backlog by roughly $150 million. Liquidity at quarter end was strong, with $113 million in cash and $160 million in undrawn credit lines, totaling about $273 million, against remaining newbuilding capital commitments of approximately $1.2 billion.
SFL Corporation Ltd. reported a strong turnaround for the three months ended March 31, 2026, posting net income of $26.1M compared with a loss of $31.9M a year earlier. Operating income rose to $56.4M, helped by an $11.5M gain on the sale of the Suezmax tanker SFL Thelon and lower vessel and rig operating expenses and depreciation.
Total operating revenues fell 6.6% to $174.5M as time charter revenues declined following prior vessel sales and charter expiries, partly offset by higher voyage and pool revenues and slightly higher drilling revenues. Interest expense decreased as benchmark rates eased, while gains on equity securities and non‑designated derivatives lifted other non‑operating items. SFL ended the quarter with $127.6M in cash, net cash from operations of $34.1M, and total debt of about $2.52B, and continues to refinance near‑term maturities. The company declared cash dividends of $0.20 and then $0.22 per share and committed to significant long‑term investments, including five dual‑fuel 16,800 TEU newbuilding container vessels totaling $848.1M.
SFL Corporation reported preliminary Q1 2026 results showing net income of $26.1 million, or $0.20 per share, on total operating revenues of $174.5 million. The Board increased the quarterly cash dividend to $0.22 per share, marking the 89th consecutive quarterly payout.
The fleet generated gross charter hire of $177 million and SFL reported a fixed-rate charter backlog of about $3.7 billion with a weighted remaining term of 6.3 years. The Company secured a new Hercules rig drilling contract valued at approximately $170 million, refinanced the Linus and Hercules rigs with $250 million of new facilities, and completed a $75 million sustainability-linked bond tap issue after quarter end. Total available liquidity at March 31, 2026 was about $288 million, while the Board renewed a $100 million share repurchase authorization and equity programs including a DRIP and ATM.
SFL Corporation Ltd. reported the results of its 2026 Annual General Meeting of shareholders held on 11 May 2026 in Hamilton, Bermuda. The audited consolidated financial statements for the year ended 31 December 2025 were presented.
Shareholders approved a maximum of eight directors, designated any vacancies as casual vacancies to be filled by the Board, and re-elected all eight incumbent directors. They also re-appointed Ernst & Young AS as auditors and approved total Board remuneration fees not to exceed US$800,000 for the year ending 31 December 2026.
A shareholder proposal to redesignate a portion of authorized but unissued common shares as preference shares, authorize the Board to issue such preference shares, and amend the Bye-laws to set their terms received a majority of votes against and was not approved.