[6-K] SFL Corporation Ltd. Current Report (Foreign Issuer)
SFL Corporation Ltd. describes a business built on owning and operating modern maritime assets on long-term charters to creditworthy counterparties, which the company says provides stable earnings and reduced residual value risk. The company retains flexible capital programs including a DRIP allowing issuance of up to 10 million common shares and an ATM program to sell up to $100 million of common shares; all issuances or repurchases remain at the company’s discretion.
The portfolio includes newer LNG dual-fuel vessels and container vessels that received hull and propeller modifications and cargo upgrades expected to cut fuel consumption per container by about 20%. SFL also disclosed legacy drilling rigs Hercules and Linus, with Hercules idle since late 2024, affecting near-term results while the company seeks new employment or strategic alternatives. The company and equity-accounted affiliates carried a total credit loss provision of approximately $3.3 million. The release explains use of non-U.S. GAAP Adjusted EBITDA as a cash-focused metric and lists typical industry and macro risk factors.
SFL Corporation Ltd. viene descritta come un’impresa che possiede e gestisce asset marittimi moderni con charter a lungo termine verso controparti solide dal punto di vista creditizio, offrendo così ricavi stabili e un rischio residuo ridotto. La società mantiene programmi di capitale flessibili, inclusa una DRIP che permette l’emissione fino a 10 milioni di azioni ordinarie e un programma ATM per vendere fino a $100 milioni di azioni ordinarie; tutte le emissioni o riacquisti restano a discrezione della società.
Il portafoglio comprende moderne navi LNG a doppia alimentazione e portacontainer che hanno subito modifiche allo scafo e all’elica e aggiornamenti del carico, che dovrebbero ridurre il consumo di carburante per container di circa il 20%. SFL ha inoltre segnalato le piattaforme di perforazione legacy Hercules e Linus, con la Hercules inattiva dalla fine del 2024, influenzando i risultati a breve termine mentre si cercano nuovi impieghi o alternative strategiche. La società e le affiliate valutate con il metodo del patrimonio hanno iscritto una perdita su crediti complessiva di circa $3.3 milioni. Il comunicato spiega l’uso dell’Adjusted EBITDA non-GAAP come metrica orientata alla liquidità e elenca i tipici fattori di rischio di settore e macroeconomici.
SFL Corporation Ltd. se presenta como una empresa que posee y opera activos marítimos modernos bajo fletamentos a largo plazo con contrapartes con buena solvencia, lo que, según la compañía, aporta ingresos estables y reduce el riesgo de valor residual. Mantiene programas de capital flexibles, incluida una DRIP que permite emitir hasta 10 millones de acciones ordinarias y un programa ATM para vender hasta $100 millones en acciones ordinarias; todas las emisiones o recompras quedan a discreción de la empresa.
La cartera incluye buques modernos de GNL de doble combustible y portacontenedores que han recibido modificaciones de casco y hélice y mejoras de carga, que se espera reduzcan el consumo de combustible por contenedor en alrededor del 20%. SFL también informó sobre las plataformas de perforación heredadas Hercules y Linus, con la Hercules inactiva desde finales de 2024, lo que afecta los resultados a corto plazo mientras la compañía busca nuevo empleo o alternativas estratégicas. La empresa y las afiliadas valoradas por el método de participación registraron una provisión total por pérdidas crediticias de aproximadamente $3.3 millones. El comunicado explica el uso del Adjusted EBITDA no GAAP como métrica centrada en la caja y enumera los típicos factores de riesgo sectoriales y macroeconómicos.
SFL Corporation Ltd.는 신용도가 높은 상대방과의 장기 용선을 통해 현대적 해양 자산을 보유·운영하는 사업을 영위한다고 설명하며, 이는 회사 측에서 안정적인 수익과 잔존가치 리스크 축소를 제공한다고 주장합니다. 회사는 유연한 자본 프로그램을 유지하고 있으며, 최대 1,000만 보통주를 발행할 수 있는 DRIP 및 최대 $1억 상당의 보통주를 매각할 수 있는 ATM 프로그램을 포함합니다. 모든 발행 및 자사주 매입은 회사 재량입니다.
포트폴리오에는 최신형 LNG 듀얼연료 선박과 선체·프로펠러 개조 및 화물 업그레이드를 거쳐 컨테이너당 연료 소비를 약 20% 절감할 것으로 예상되는 컨테이너선이 포함됩니다. SFL은 또한 레거시 시추선 Hercules와 Linus를 공개했으며, Hercules는 2024년 말 이후 유휴 상태로 단기 실적에 영향을 미치고 있고 회사는 새로운 배치나 전략적 대안을 모색 중입니다. 회사와 지분법 적용 관계사는 총 약 $330만의 대손충당금을 계상했습니다. 보도자료는 현금 중심 지표로서 비미국 GAAP 조정 EBITDA의 사용을 설명하고 전형적인 업계 및 거시적 리스크 요인을 나열합니다.
SFL Corporation Ltd. est présentée comme une entreprise détenant et exploitant des actifs maritimes modernes en affrètements long terme auprès de contreparties solvables, ce qui, selon la société, procure des revenus stables et réduit le risque de valeur résiduelle. La société conserve des programmes de capital flexibles, dont un DRIP permettant l’émission jusqu’à 10 millions d’actions ordinaires et un programme ATM pour vendre jusqu’à 100 millions $ d’actions ordinaires ; toutes émissions ou rachats restent à la discrétion de la société.
Le portefeuille comprend des navires gaziers (LNG) à double carburant récents et des porte-conteneurs ayant subi des modifications de coque et d’hélice et des améliorations de cargaison, censées réduire la consommation de carburant par conteneur d’environ 20%. SFL a également divulgué les anciennes plateformes de forage Hercules et Linus, la Hercules étant inactive depuis fin 2024, ce qui affecte les résultats à court terme pendant que la société recherche de nouveaux emplois ou des alternatives stratégiques. La société et ses participations mises en équivalence ont constitué une provision totale pour pertes de crédit d’environ 3,3 millions $. Le communiqué explique l’utilisation de l’Adjusted EBITDA non-GAAP comme indicateur axé sur la trésorerie et énumère les facteurs de risque sectoriels et macroéconomiques typiques.
SFL Corporation Ltd. wird als Unternehmen beschrieben, das moderne maritime Vermögenswerte besitzt und betreibt und diese langfristig an kreditwürdige Gegenparteien verchartert – was laut Gesellschaft stabile Erträge und ein geringeres Restwertrisiko bietet. Das Unternehmen hält flexible Kapitalprogramme bereit, darunter eine DRIP zur Ausgabe von bis zu 10 Millionen Stammaktien und ein ATM-Programm zum Verkauf von bis zu $100 Millionen an Stammaktien; sämtliche Emissionen oder Rückkäufe liegen im Ermessen der Gesellschaft.
Das Portfolio umfasst neuere LNG-Dual-Fuel-Schiffe und Containerschiffe, denen Rumpf- und Propeller-Modifikationen sowie Ladungs-Upgrades verpasst wurden, die den Treibstoffverbrauch pro Container um rund 20% senken sollen. SFL gab außerdem die Alt-Bohrinseln Hercules und Linus an, wobei die Hercules seit Ende 2024 stillsteht, was die kurzfristigen Ergebnisse belastet, während nach neuer Beschäftigung oder strategischen Alternativen gesucht wird. Das Unternehmen und equity-bilanzierte Tochtergesellschaften bildeten insgesamt eine Kreditverlustrückstellung von rund $3,3 Millionen. Die Mitteilung erläutert die Verwendung von Non-GAAP Adjusted EBITDA als cash-orientierte Kennzahl und listet typische Branchen- und makroökonomische Risikofaktoren auf.
- Stable earnings model driven by long-term charters to high-quality counterparties
- Capital flexibility via a DRIP (up to 10 million shares) and an ATM program (up to $100 million)
- Fleet decarbonization progress with 11 LNG dual-fuel vessels in operation or under construction
- Fuel-efficiency upgrades on large container vessels expected to reduce fuel consumption per container by ~20%
- Idle legacy asset: Hercules has been idle since late 2024, negatively affecting near-term results
- Credit exposure from intercompany funding and equity-method investees with a total credit loss provision of approximately $3.3 million
- Dependence on charterer economics: many upgrades are paid by charterers and outcomes depend on successful charter renewals
- Material industry risks remain, including charter rate volatility, vessel values and regulatory/environmental cost increases
Insights
TL;DR Stable, charter-weighted portfolio reduces volatility, but idle legacy rigs and modest credit provisions signal near-term headwinds.
SFL emphasizes a low-risk earnings profile through long-term charters and diversification across shipping segments, supported by fuel-efficiency upgrades and growing LNG dual-fuel exposure. The availability of DRIP and ATM programs enhances financing flexibility without commitment. The idle status of Hercules is a clear near-term earnings drag; the company’s disclosure that it is evaluating alternatives is prudent but creates execution risk. The $3.3 million credit loss provision appears modest relative to fleet scale but warrants monitoring alongside counterparty performance and lease receivables. Overall, the filing provides transparency on accounting for equity-method affiliates and non-GAAP metrics, useful for cash-flow focused analysis.
TL;DR Capital flexibility and charter coverage mitigate some downside, but residual asset and market risks remain material.
SFL’s long-term charter strategy reduces direct exposure to spot rate swings and residual value volatility, improving cash flow predictability. Investments in fuel-saving modifications and LNG dual-fuel vessels reduce operational fuel risk and may support stronger charter renewal economics. However, legacy assets like Hercules being idle introduce utilization and revenue risk until redeployed or resolved. Intercompany financing of equity-method investees increases credit exposure and complexity in the balance sheet; the stated $3.3 million credit loss provision should be tracked relative to receivables trends. The company’s reliance on charterer-funded upgrades and ongoing market cyclicality are additional risk factors for credit assessment.
SFL Corporation Ltd. viene descritta come un’impresa che possiede e gestisce asset marittimi moderni con charter a lungo termine verso controparti solide dal punto di vista creditizio, offrendo così ricavi stabili e un rischio residuo ridotto. La società mantiene programmi di capitale flessibili, inclusa una DRIP che permette l’emissione fino a 10 milioni di azioni ordinarie e un programma ATM per vendere fino a $100 milioni di azioni ordinarie; tutte le emissioni o riacquisti restano a discrezione della società.
Il portafoglio comprende moderne navi LNG a doppia alimentazione e portacontainer che hanno subito modifiche allo scafo e all’elica e aggiornamenti del carico, che dovrebbero ridurre il consumo di carburante per container di circa il 20%. SFL ha inoltre segnalato le piattaforme di perforazione legacy Hercules e Linus, con la Hercules inattiva dalla fine del 2024, influenzando i risultati a breve termine mentre si cercano nuovi impieghi o alternative strategiche. La società e le affiliate valutate con il metodo del patrimonio hanno iscritto una perdita su crediti complessiva di circa $3.3 milioni. Il comunicato spiega l’uso dell’Adjusted EBITDA non-GAAP come metrica orientata alla liquidità e elenca i tipici fattori di rischio di settore e macroeconomici.
SFL Corporation Ltd. se presenta como una empresa que posee y opera activos marítimos modernos bajo fletamentos a largo plazo con contrapartes con buena solvencia, lo que, según la compañía, aporta ingresos estables y reduce el riesgo de valor residual. Mantiene programas de capital flexibles, incluida una DRIP que permite emitir hasta 10 millones de acciones ordinarias y un programa ATM para vender hasta $100 millones en acciones ordinarias; todas las emisiones o recompras quedan a discreción de la empresa.
La cartera incluye buques modernos de GNL de doble combustible y portacontenedores que han recibido modificaciones de casco y hélice y mejoras de carga, que se espera reduzcan el consumo de combustible por contenedor en alrededor del 20%. SFL también informó sobre las plataformas de perforación heredadas Hercules y Linus, con la Hercules inactiva desde finales de 2024, lo que afecta los resultados a corto plazo mientras la compañía busca nuevo empleo o alternativas estratégicas. La empresa y las afiliadas valoradas por el método de participación registraron una provisión total por pérdidas crediticias de aproximadamente $3.3 millones. El comunicado explica el uso del Adjusted EBITDA no GAAP como métrica centrada en la caja y enumera los típicos factores de riesgo sectoriales y macroeconómicos.
SFL Corporation Ltd.는 신용도가 높은 상대방과의 장기 용선을 통해 현대적 해양 자산을 보유·운영하는 사업을 영위한다고 설명하며, 이는 회사 측에서 안정적인 수익과 잔존가치 리스크 축소를 제공한다고 주장합니다. 회사는 유연한 자본 프로그램을 유지하고 있으며, 최대 1,000만 보통주를 발행할 수 있는 DRIP 및 최대 $1억 상당의 보통주를 매각할 수 있는 ATM 프로그램을 포함합니다. 모든 발행 및 자사주 매입은 회사 재량입니다.
포트폴리오에는 최신형 LNG 듀얼연료 선박과 선체·프로펠러 개조 및 화물 업그레이드를 거쳐 컨테이너당 연료 소비를 약 20% 절감할 것으로 예상되는 컨테이너선이 포함됩니다. SFL은 또한 레거시 시추선 Hercules와 Linus를 공개했으며, Hercules는 2024년 말 이후 유휴 상태로 단기 실적에 영향을 미치고 있고 회사는 새로운 배치나 전략적 대안을 모색 중입니다. 회사와 지분법 적용 관계사는 총 약 $330만의 대손충당금을 계상했습니다. 보도자료는 현금 중심 지표로서 비미국 GAAP 조정 EBITDA의 사용을 설명하고 전형적인 업계 및 거시적 리스크 요인을 나열합니다.
SFL Corporation Ltd. est présentée comme une entreprise détenant et exploitant des actifs maritimes modernes en affrètements long terme auprès de contreparties solvables, ce qui, selon la société, procure des revenus stables et réduit le risque de valeur résiduelle. La société conserve des programmes de capital flexibles, dont un DRIP permettant l’émission jusqu’à 10 millions d’actions ordinaires et un programme ATM pour vendre jusqu’à 100 millions $ d’actions ordinaires ; toutes émissions ou rachats restent à la discrétion de la société.
Le portefeuille comprend des navires gaziers (LNG) à double carburant récents et des porte-conteneurs ayant subi des modifications de coque et d’hélice et des améliorations de cargaison, censées réduire la consommation de carburant par conteneur d’environ 20%. SFL a également divulgué les anciennes plateformes de forage Hercules et Linus, la Hercules étant inactive depuis fin 2024, ce qui affecte les résultats à court terme pendant que la société recherche de nouveaux emplois ou des alternatives stratégiques. La société et ses participations mises en équivalence ont constitué une provision totale pour pertes de crédit d’environ 3,3 millions $. Le communiqué explique l’utilisation de l’Adjusted EBITDA non-GAAP comme indicateur axé sur la trésorerie et énumère les facteurs de risque sectoriels et macroéconomiques typiques.
SFL Corporation Ltd. wird als Unternehmen beschrieben, das moderne maritime Vermögenswerte besitzt und betreibt und diese langfristig an kreditwürdige Gegenparteien verchartert – was laut Gesellschaft stabile Erträge und ein geringeres Restwertrisiko bietet. Das Unternehmen hält flexible Kapitalprogramme bereit, darunter eine DRIP zur Ausgabe von bis zu 10 Millionen Stammaktien und ein ATM-Programm zum Verkauf von bis zu $100 Millionen an Stammaktien; sämtliche Emissionen oder Rückkäufe liegen im Ermessen der Gesellschaft.
Das Portfolio umfasst neuere LNG-Dual-Fuel-Schiffe und Containerschiffe, denen Rumpf- und Propeller-Modifikationen sowie Ladungs-Upgrades verpasst wurden, die den Treibstoffverbrauch pro Container um rund 20% senken sollen. SFL gab außerdem die Alt-Bohrinseln Hercules und Linus an, wobei die Hercules seit Ende 2024 stillsteht, was die kurzfristigen Ergebnisse belastet, während nach neuer Beschäftigung oder strategischen Alternativen gesucht wird. Das Unternehmen und equity-bilanzierte Tochtergesellschaften bildeten insgesamt eine Kreditverlustrückstellung von rund $3,3 Millionen. Die Mitteilung erläutert die Verwendung von Non-GAAP Adjusted EBITDA als cash-orientierte Kennzahl und listet typische Branchen- und makroökonomische Risikofaktoren auf.
| SFL Corporation Ltd. | |||||||||||
| Date: August 19, 2025 | By: | /s/ Ole B. Hjertaker | |||||||||
| Name: | Ole B. Hjertaker | ||||||||||
| Title: | SFL Management AS | ||||||||||
| (Principal Executive Officer) | |||||||||||
INCOME STATEMENT | Three months ended | Full year | |||||||||
| (in thousands of $ | Jun 30, | Mar 31, | 2024 | ||||||||
| except per share data) | 2025 | 2025 | (audited) | ||||||||
Charter revenues: sales-type leases (excluding charter hire treated as Repayments)(1) | 449 | 471 | 2,439 | ||||||||
Charter revenues: operating leases and rig revenue contracts | 186,943 | 183,358 | 874,943 | ||||||||
Profit share income | 1,135 | 1,466 | 16,679 | ||||||||
Other operating income | 4,061 | 1,444 | 10,343 | ||||||||
Total operating revenues | 192,588 | 186,739 | 904,404 | ||||||||
Gain on sale of vessels | 4,242 | — | 5,374 | ||||||||
Vessel and rig operating expenses | (86,106) | (75,797) | (343,303) | ||||||||
Administrative expenses | (4,377) | (5,276) | (20,577) | ||||||||
| Depreciation | (60,864) | (60,911) | (239,181) | ||||||||
Vessel impairment charge | — | (34,093) | — | ||||||||
Total operating expenses | (151,347) | (176,077) | (603,061) | ||||||||
Operating income | 45,483 | 10,662 | 306,717 | ||||||||
| Results in associates | 521 | 625 | 2,798 | ||||||||
| Interest income from associates | 1,138 | 1,125 | 4,576 | ||||||||
| Interest income, other | 1,953 | 1,881 | 9,189 | ||||||||
| Interest expense | (45,860) | (46,207) | (182,985) | ||||||||
| Interest and valuation (loss)/gain on non-designated derivatives | (1,577) | (985) | 276 | ||||||||
| Loss on investments in debt and equity securities | (966) | (360) | (854) | ||||||||
| Other financial items | 1,235 | 2,180 | 1,567 | ||||||||
| Taxes | (467) | (792) | (10,631) | ||||||||
Net income/(loss) | 1,460 | (31,871) | 130,653 | ||||||||
Basic earnings/(loss) per share ($) | 0.01 | (0.24) | 1.01 | ||||||||
Weighted average number of shares(2) | 132,795,231 | 133,924,941 | 129,391,084 | ||||||||
Common shares outstanding(2) | 132,737,785 | 133,471,284 | 133,943,382 | ||||||||
| BALANCE SHEET | Jun 30, | Mar 31, | Dec 31, 2024 | ||||||||
| (in thousands of $) | 2025 | 2025 | (audited) | ||||||||
| ASSETS | |||||||||||
Short term | |||||||||||
Cash and cash equivalents(1) | 155,820 | 173,945 | 134,551 | ||||||||
Investment in marketable securities | 2,859 | 3,660 | 3,736 | ||||||||
Amount due from related parties | 7,567 | 5,682 | 5,201 | ||||||||
Investment in sales-type leases, current portion | 4,450 | 33,157 | 35,135 | ||||||||
Other current assets | 113,037 | 110,831 | 137,395 | ||||||||
Long term | |||||||||||
Vessels, rigs and equipment, net | 3,417,008 | 3,463,645 | 3,552,298 | ||||||||
Capital improvements, newbuildings and vessel deposits | 174,584 | 165,921 | 162,254 | ||||||||
Investment in associates(2) | 16,074 | 16,270 | 16,382 | ||||||||
Amount due from related parties, long term(2) | 45,000 | 45,000 | 45,000 | ||||||||
Other long term assets | 15,517 | 13,937 | 15,817 | ||||||||
Total assets | 3,951,916 | 4,032,048 | 4,107,769 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
Short term | |||||||||||
Short term and current portion of long term interest bearing debt | 825,178 | 623,494 | 689,045 | ||||||||
Amount due to related parties | 1,809 | 1,455 | 1,296 | ||||||||
Other current liabilities | 115,499 | 98,611 | 137,516 | ||||||||
Long term | |||||||||||
Long term interest bearing debt, net of deferred charges | 1,993,310 | 2,252,626 | 2,150,417 | ||||||||
Other long term liabilities | 6,806 | 3,473 | 1,073 | ||||||||
Stockholders’ equity | 1,009,314 | 1,052,389 | 1,128,422 | ||||||||
Total liabilities and stockholders’ equity | 3,951,916 | 4,032,048 | 4,107,769 | ||||||||
STATEMENT OF CASHFLOWS | Three months ended | Full year | |||||||||
(in thousands of $) | Jun 30, | Mar 31, | 2024 | ||||||||
| 2025 | 2025 | (audited) | |||||||||
OPERATING ACTIVITIES | |||||||||||
Net (loss)/income | 1,460 | (31,871) | 130,653 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 62,747 | 62,737 | 245,699 | ||||||||
Vessel impairment charge | — | 34,093 | — | ||||||||
| Adjustment of derivatives to fair value recognised in net income | 2,374 | 1,809 | 4,708 | ||||||||
| Loss on investments in debt and equity securities | 966 | 360 | 854 | ||||||||
| Results in associates | (521) | (625) | (2,798) | ||||||||
| Gain on sale of assets and termination of charters | (4,242) | — | (5,374) | ||||||||
| Repayment of investment in sales-type leases | 2,035 | 1,986 | 8,640 | ||||||||
| Other, net | 2,679 | 2,493 | (84) | ||||||||
| Change in operating assets and liabilities | 2,638 | 7,626 | (12,437) | ||||||||
| Net cash provided by operating activities | 70,136 | 78,608 | 369,861 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Purchase of vessels, capital improvements, newbuildings and deposits | (28,002) | (20,089) | (644,859) | ||||||||
Proceeds from sale of vessels and termination of charters | 46,127 | — | 22,744 | ||||||||
Cash received from associates | — | — | 2,810 | ||||||||
Collateral deposits returned/(paid) on swap agreements and other assets | — | — | 1,800 | ||||||||
Net cash used in investing activities | 18,125 | (20,089) | (617,505) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of finance lease liabilities | — | — | (419,341) | ||||||||
Proceeds from long and short term debt | 90,685 | 153,357 | 1,398,389 | ||||||||
Repayment of long and short term debt | (155,245) | (112,194) | (556,730) | ||||||||
Repurchase of Company bonds | — | (11,144) | (133,117) | ||||||||
Expenses paid in connection with securing finance | (29) | (2,650) | (13,723) | ||||||||
Net cash flows on swaps | — | (6,265) | (16,534) | ||||||||
| Cash received/(paid) for shares issued or repurchased | (5,963) | (4,062) | 96,250 | ||||||||
Cash dividends paid | (35,834) | (36,167) | (138,491) | ||||||||
Net cash provided by/(used in) financing activities | (106,386) | (19,125) | 216,703 | ||||||||
Net increase/ (decrease) in cash and cash equivalents | (18,125) | 39,394 | (30,941) | ||||||||
Cash and cash equivalents at beginning of period | 173,945 | 134,551 | 165,492 | ||||||||
Cash and cash equivalents at end of period | 155,820 | 173,945 | 134,551 | ||||||||
River Box | |||||
| (in thousands of $) | Holding Inc | ||||
| Ownership share presented | 49.9% | ||||
Charter revenues - direct financing leases (net of charter hire treated as Repayment of investment in direct financing leases)(1) | 4,103 | ||||
Interest expense, related party(2) | (568) | ||||
Interest expense, other | (2,944) | ||||
Other items | (70) | ||||
Net income (3) | 521 | ||||
River Box | |||||
| (in thousands of $) | Holding Inc (1) | ||||
| Ownership share presented | 49.9% | ||||
Cash and cash equivalents | 3,012 | ||||
Investment in direct financing leases including current portion | 213,577 | ||||
Total assets | 216,589 | ||||
Short term and long term portions of lease liability | 176,633 | ||||
Other current liabilities | 1,427 | ||||
Long term loans from shareholders, net(2) | 22,455 | ||||
Stockholder's equity(3) | 16,074 | ||||
Total liabilities and stockholder's equity | 216,589 | ||||
INCOME STATEMENT | |||||||||||
| (in thousands of $) | Shipping | Energy | Total | ||||||||
| Total operating revenues | 166,644 | 25,944 | 192,588 | ||||||||
| Gain on sale of vessels | 4,242 | — | 4,242 | ||||||||
Total operating expenses | (117,451) | (33,896) | (151,347) | ||||||||
Operating income/(loss) | 53,435 | (7,952) | 45,483 | ||||||||
| Interest expense | (37,682) | (6,051) | (43,733) | ||||||||
| Other non-operating items | (834) | 1,011 | 177 | ||||||||
| Taxes | — | (467) | (467) | ||||||||
| Net income/(loss) | 14,919 | (13,459) | 1,460 | ||||||||
ADJUSTED EBITDA | Shipping | Energy | Total | 49.9% owned | ||||||||||
| (in thousands of $) | associates | |||||||||||||
Net cash provided by operating activities | 68,707 | 1,429 | 70,136 | 4,539 | ||||||||||
Non cash movements in other assets and liabilities | (5,992) | 61 | (5,931) | (282) | ||||||||||
Interest related to Non- Designated Derivatives | (797) | — | (797) | — | ||||||||||
Interest expense | 37,682 | 6,051 | 43,733 | 2,944 | ||||||||||
Interest income, other | (972) | (981) | (1,953) | — | ||||||||||
Interest (income)/expense from associates | (1,138) | — | (1,138) | 568 | ||||||||||
Adjusted EBITDA (1) | 97,490 | 6,560 | 104,050 | 7,769 | ||||||||||
FAQ
What capital programs does SFL (SFL) have available?
How many LNG dual-fuel vessels does SFL have?
What is the status of the drilling rig Hercules?
What credit provisions has SFL recorded?
How does SFL present Adjusted EBITDA?
