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.
SFL Corporation Ltd. (NYSE: SFL) will announce its preliminary financial results for Q4 2022 on February 15, 2023. A conference call and webcast will take place on the same day at 10:00 AM (EST) / 4:00 PM (CET), accessible via SFL’s Investor Relations page at www.sflcorp.com. Participants can join through a live webcast or dial-in for a Q&A session. A replay of the conference will be available on SFL's website following the call. The Company has maintained a consistent record of dividends since its NYSE listing in 2004, showcasing its stable maritime operations.
SFL Corporation Ltd. (NYSE: SFL) has engaged Arctic Securities and DNB Markets to organize fixed income investor meetings starting January 13, 2023. A potential USD denominated 4-year senior unsecured sustainability-linked bond may follow, depending on market conditions. Proceeds from this bond issue will be allocated to refinance existing bonds and support general corporate purposes. Established in 2004, SFL has consistently paid dividends each quarter and boasts a diverse fleet of vessels, emphasizing its long-term stability and growth potential in the maritime industry.
On November 14, 2022, SFL Corporation Ltd. reported its preliminary financial results for Q3 2022, showcasing a remarkable net profit of $49.9 million or $0.39 per share. The company declared its 75th consecutive dividend at $0.23 per share, continuing its commitment to shareholder returns. With charter hire totaling $177.5 million and an adjusted EBITDA of $117.7 million, SFL maintains a robust financial position, highlighted by a fixed-rate charter backlog of $3.8 billion.
SFL Corporation Ltd. (NYSE: SFL) has acquired a Pure Car Truck Carrier (PCTC) along with a long-term charter agreement with a prominent car carrier operator, expected to generate a backlog of approximately $65 million until 2028. The company will receive the vessel in Q4 2022, enhancing its revenue potential through additional profit share opportunities linked to fuel savings. SFL has also recently added four Suezmax tankers and a new eco-design feeder container vessel to its fleet, with full revenue impacts anticipated from Q1 2023.
SFL Corporation Ltd. (NYSE: SFL) held its 2022 Annual General Meeting on September 30, 2022, where several resolutions were passed. This included setting the maximum number of Directors to eight and designating casual vacancies for the Board. Directors Kathrine Fredriksen, Gary Vogel, Keesjan Cordia, James O'Shaughnessy, Ole Hjertaker, and Will Homan-Russell were re-elected. The remuneration for the Board was approved at a total of $800,000 for 2022, and an amendment to the bye-laws was also sanctioned.
SFL Corporation Ltd. (NYSE: SFL) will hold its 2022 Annual General Meeting on September 30, 2022. The notice and associated information, including the Company's Annual Report on Form 20-F, are available on their website. Since its NYSE listing in 2004, SFL has consistently paid dividends quarterly. The Company operates a diverse fleet consisting of container vessels, car carriers, tanker vessels, bulkers, and offshore drilling rigs. SFL’s long-term distribution is backed by significant growth and a robust portfolio of long-term charters.
SFL Corporation Ltd. (NYSE: SFL) announced the acquisition of two eco-design feeder container vessels with long-term charters to a European liner company. The vessels are expected to be delivered in Q3 and Q4 2022, contributing approximately $120 million to the fixed rate charter backlog and around $13 million in annual EBITDA. This acquisition reflects SFL's strategy to expand its fleet while ensuring immediate cash flow. CEO Ole B. Hjertaker emphasized the transaction's attractiveness due to the investment-grade counterpart and favorable terms for reducing asset exposure.
The upcoming second quarter results presentation for SFL is scheduled for August 17, 2022. The presentation will provide preliminary financial insights as the company continues to assess market conditions and performance metrics.
For more detailed information, stakeholders can access the SFL - Second Quarter 2022 Results Presentation.
SFL Corporation Ltd. reported preliminary financial results for Q2 2022, showcasing a net profit of $57.4 million or $0.45 per share. This marks the 74th consecutive quarterly dividend declared at $0.23 per share, to be paid on September 29. The company earned $164.9 million in charter hire, including $5.2 million from profit sharing. SFL completed the sale of two VLCCs and a feeder containership, yielding a $13.2 million book gain. They also agreed to acquire four Suezmax tankers under a six-year charter with Koch Industries.
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