SFL Corporation Ltd (Hold, TP: USD8.60) - Retaining container exposure
SFL yesterday announced it has agreed to acquire two 14k TEU container vessels and the sale of 18 feeder vessels that, on our estimates, will be EBITDA-positive by cUSD3m per annum. While the price tag for the two 14k vessels is confidential, we expect a price well below the USD140m indicated by VesselsValue, as the TC announced with the sale is below current market rates.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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