Welcome to our dedicated page for SFL Corporation Ltd. news (Ticker: SFL), a resource for investors and traders seeking the latest updates and insights on SFL Corporation Ltd. stock.
SFL Corporation Ltd. (NYSE: SFL) is an international ship owning and chartering company based in Hamilton, Bermuda. Founded in 2003, the company specializes in the ownership, operation, and chartering out of vessels and offshore-related assets on medium and long-term charters. SFL is also involved in the charter, purchase, and sale of assets, operating across various sectors of the shipping and offshore industry.
SFL's diverse fleet includes oil tankers, chemical tankers, oil product tankers, dry bulk vessels, container ships, car carriers, drilling rigs, and offshore support vessels. As of December 31, 2019, the company had a fleet of 81 vessels and rigs. The vessels are predominantly double-hull types, ensuring safety and compliance with international maritime standards.
The company's operations span globally, including regions such as Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. Notably, SFL changed its name from Ship Finance International Limited to SFL Corporation Ltd. in September 2019, reflecting its broader scope and strategic direction.
Recent achievements highlight SFL's ongoing growth and strategic investments. The company announced the acquisition of two LNG dual-fuel 33,000 dwt chemical carriers, built in 2022/2023 and fitted with stainless steel cargo tanks. The purchase price of these vessels is approximately $114 million, and they will be long-term chartered to affiliates of Stolt Tankers, a subsidiary of Stolt-Nielsen Limited.
Financial Performance and Partnerships
SFL Corporation Ltd. has a track record of paying dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The company's financial strength is underpinned by long-term charters and steady growth in asset base, supporting its distribution capacity.
In its preliminary Q4 2023 results, SFL announced an increased quarterly cash dividend to $0.26 per share, demonstrating its commitment to shareholder returns. The company has also notified Nordic Trustee AS of its intention to redeem all outstanding bonds under its senior secured bond issue 2019/2024.
Looking forward, SFL remains focused on enhancing its fleet's efficiency and environmental performance, while expanding its market presence through strategic acquisitions and partnerships. The company's robust financial condition and diversified portfolio position it to navigate market fluctuations and capitalize on emerging opportunities in the maritime industry.
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