reports
SFL - Fixed Income Investor Meetings
SFL - Fixed Income Investor Meetings SFL Corporation Ltd. (NYSE: SFL) (the "Company" or "SFL") has engaged Arctic Securities, Fearnley Securities, Pareto Securities and SEB to arrange a series of fixed income investor meetings commencing today, January 9th. A USD denominated senior unsecured sustainability-linked bond offering may follow, subject to, inter alia, market conditions. Net proceeds from any contemplated bond issuance will intendedly be used for general corporate purposes. January 9, 2025 The Board of DirectorsSFL Corporation Ltd.Hamilton, BermudaInvestor and Analyst Contact...
- Jørgen Lian
SFL Corporation Ltd (Hold, TP: USD10.80) - Risk/reward points to fair...
We see the current DPS capacity supported by a solid contract backlog with strong counterparties, with further build potential, as shown by the >USD2bn added YTD. However, as Hercules ended its employment, we see utilisation risk, with an idle rig leaving ~USD30m annual cash burn. However, we model a sustained USD0.27 DPS, assuming 70% utilisation at current rates, or alternatively the asset being divested to clear outstanding debt. Hence, we believe the operational risk is balanced by possible ...
SFL - Third Quarter 2024 Results
SFL - Third Quarter 2024 Results Preliminary Q3 2024 results and quarterly cash dividend to $0.27 per share Hamilton, Bermuda, November 6, 2024, SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended September 30, 2024. Highlights 83rd consecutive quarterly dividend declared, $0.27 per shareNet profit of $44.5 million, or $0.34 per share in the third quarterReceived charter hire1 of $263.2 million in the quarter, including $4.2 million of profit shareAdjusted EBITDA2 of $158.8 million from consolidated subsidiaries, plus ...
SFL - Invitation to Presentation of Q3 2024 Results
SFL - Invitation to Presentation of Q3 2024 Results SFL Corporation Ltd. ("SFL" or the “Company”) (NYSE: SFL) plans to release its preliminary financial results for the third quarter of 2024 on Wednesday, November 06, 2024. SFL plans to host a conference call and webcast for all stakeholders and interested parties on Wednesday, November 06, 2024, at 10:00 AM (EST) / 4:00 PM (CET). Relevant material will on the same day be available from the Investor Relations section of the Company’s website at In order to listen to the conference call and presentation, you may do one of the followin...
SFL - Successful Placement of Five Year Senior Unsecured Bonds
SFL - Successful Placement of Five Year Senior Unsecured Bonds SFL Corporation Ltd. (NYSE: SFL) (the "Company" or "SFL") today successfully placed NOK 750 million senior unsecured bonds due September 25, 2029. The bonds will pay a quarterly coupon of the 3 month Norwegian Interbank Offered Rate (NIBOR) + 3.25 % per annum. Net proceeds from the bond issuance will intendedly be applied against the call of the net outstanding amount of the Company’s existing NOK 600 million senior unsecured bonds maturing in January 2025, with ISIN NO0010872997 (the "Existing Bonds"), at the prevailing call...
SFL - Fixed Income Investor Meetings
SFL - Fixed Income Investor Meetings SFL Corporation Ltd. (NYSE: SFL) (the "Company" or "SFL") has engaged Arctic Securities, DNB Markets and SEB to arrange a series of fixed income investor meetings commencing today, September 9th. A NOK denominated senior unsecured bond offering may follow, subject to, inter alia, market conditions. Net proceeds from any contemplated bond issuance will intendedly be used for refinancing of the Company’s existing NOK 600 million senior unsecured bonds maturing in January 2025, with ISIN NO0010872997 (the "Existing Bonds"), and general corporate purposes...
- Jørgen Lian
SFL Corporation Ltd Minor model adjustments
We have updated our estimates following the Q2 report, adjusted the two rigs’ operating income timing, and made other minor revisions. We still find support for an increased quarterly DPS on SFL’s contract backlog growth (from cUSD3.2bn at end-2023 to cUSD4.9bn at end-Q2), but see potential utilisation risk on Hercules’ contract, which is set to end in Q4. We do not consider these changes to be material, and we have not changed our HOLD recommendation. We reiterate our USD12.5 target price.
SFL - Second Quarter 2024 Results
SFL - Second Quarter 2024 Results Preliminary Q2 2024 results and quarterly cash dividend to $0.27 per share Hamilton, Bermuda, August 14, 2024, SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended June 30, 2024. Highlights 82nd consecutive quarterly dividend declared, $0.27 per shareNet profit of $20.6 million, or $0.16 per share in the second quarterReceived charter hire1 of $198.8 million in the quarter, including $4.4 million of profit shareAdjusted EBITDA2 of $123.3 million from c...
- Jørgen Lian
SFL Corporation Ltd (Hold, TP: USD12.50) - Solid backlog fairly value...
SFL has demonstrated its ability to conclude solid contracts YTD, increasing its total fixed-rate charter backlog by ~USD2bn. In tandem with attractive offshore markets, giving the potential for Hercules to secure further strong employment beyond its current contract – which would raise our annualised cash flow by USD0.31/share on similar terms – this is supportive of a DPS uptick. However, we also see utilisation risk, as the firm period left of the contract is relatively short. We reiterate ou...
SFL - Invitation to Presentation of Q2 2024 Results
SFL - Invitation to Presentation of Q2 2024 Results SFL Corporation Ltd. ("SFL" or the “Company”) (NYSE: SFL) plans to release its preliminary financial results for the second quarter of 2024 on Wednesday, August 14, 2024. SFL plans to host a conference call and webcast for all stakeholders and interested parties on Wednesday, August 14, 2024, at 10:00 AM (EST) / 4:00 PM (CET). Relevant material will on the same day be available from the Investor Relations section of the Company’s website at In order to listen to the conference call and presentation, you may do one of the following: A: J...
SFL - Announcement of Pricing of Public Offering of 8 million Common S...
SFL - Announcement of Pricing of Public Offering of 8 million Common Shares SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) today announced that it has priced its previously announced underwritten public offering (the “Offering”) of 8,000,000 of the Company’s common shares, par value $0.01 per share (“Common Shares”), at $12.50 per share. The net proceeds of the Offering are expected to be used for general corporate purposes, including but not limited to vessel acquisitions. The Company has granted the underwriters a 30-day option to purchase up to an ad...
SFL - Announcement of Public Offering of Common Shares
SFL - Announcement of Public Offering of Common Shares SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) today announced that it intends to offer, issue and sell to the public 8,000,000 of the Company’s common shares, par value $0.01 per share (“Common Shares”), through an underwritten public offering (the “Offering”). The net proceeds of the Offering are expected to be used for general corporate purposes, including but not limited to vessel acquisitions. The Company also intends to grant the underwriters a 30-day over-allotment option to purchase up to an additional 1,200,000 Comm...
SFL - New long term charters for four 8,700 TEU container vessels
SFL - New long term charters for four 8,700 TEU container vessels SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that it has agreed new 5-year time charters on four 8,700 TEU container vessels, which will add approximately $240 million to the Company’s fixed rate charter backlog. The vessels have been on charter to A.P. Moller - Maersk (“Maersk”) since they were new and the current charters were due to expire in 2025. The vessels were built in 2014-2015 with a modern, wide-beam design and fuel-efficient electronic engines. In connection with the new charters, SFL...
SFL - Newbuild order of five LNG dual-fuel 16,800 TEU container vessel...
SFL - Newbuild order of five LNG dual-fuel 16,800 TEU container vessels in combination with long term charters SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) today announced that it has agreed to build five 16,800 TEU container vessels with scheduled delivery in 2028 at an aggregate construction cost of approximately $1 billion. The vessels will have LNG dual-fuel propulsion and the latest features in fuel efficiency and cargo intake optimization. Concurrently, SFL has agreed minimum 10-year time charters to a leading liner company from delivery, adding approximately $1.2 bill...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
New All-Time Highs Validates Our Bullish Outlook We continue to view the latest pullback to the 100-day MA on the S&P 500 as healthy and normal within the ongoing bull market, and our bullish outlook (since early-November 2023) remains intact. Throughout the last week of April, we discussed the possibility that further downside was limited (4/23/24 Compass) and the mounting evidence that led us to believe the lows were likely in for this pullback (4/30/24 Compass). Market dynamics remain health...
MATX MATSON INC.
EURN EURONAV NV
DHT DHT HOLDINGS INC.
ASC ARDMORE SHIPPING
SBL SAFE BULKERS INC.
NVGS NAVIGATOR HOLDINGS
LPG DORIAN LPG
DSX DIANA SHIPPING INC.
LCM COSTAMARE INC.
TK TEEKAY CORPORATION
SBLK STAR BULK CARRIERS CORP.
G2O GOLAR LNG LIMITED
GOGLO GOLDEN OCEAN GROUP LTD
CENX CENTURY ALUMINUM COMPANY
GATX GATX CORPORATION
KEX KIRBY CORPORATION
WAB WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION
OSG OVERSEAS SHIPHOLDING GROUP
AA ALCOA CORPORATION
INSW INTERNATIONAL SEAWAYS INC.
NOHA NORSK HYDRO ASA ADS
AWCMY ALUMINA LTD ADS
RTP. RIO TINTO PLC CEDEAR
STNG SCORPIO TANKERS INC.
NMM NAVIOS MARITIME PARTNERS
GSL GLOBAL SHIP LEASE INC. CLASS A
SFL SFL CORPORATION LIMITED
TNK TEEKAY TANKERS
CSTM CONSTELLIUM SE CLASS A
TNP TSAKOS ENERGY NAVIGATION LTD.
FRO FRONTLINE PLC
HSHP HIMALAYA SHIPPING LTD.
HWM HOWMET AEROSPACE INC COM
GBX GREENBRIER COMPANIES INC COM
FSTR L B FOSTER CO COM
- Jørgen Lian
SFL Corporation Ltd (Hold, TP: USD14.30) - Building DPS capacity
Solid deal flow in Q1 (contracts for seven container vessels and acquisitions of five tankers) has increased the backlog by cUSD0.5bn and added exposure to a hot chemical tanker market. We see upside potential for the Hercules rig, with its contract expected to end in Q4 2024, and estimate an annualised increase to our cash-flow estimates post-Q4 of USD0.33/share if extending the contract at similar terms. We reiterate our HOLD, but have raised our target price to USD14.3 (12.0).
SFL - First Quarter 2024 Results
SFL - First Quarter 2024 Results Preliminary Q1 2024 results and increased quarterly cash dividend to $0.27 per share Hamilton, Bermuda, May 14, 2024, SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended March 31, 2024. Highlights 81st consecutive quarterly dividend, increased to $0.27 per shareNet profit of $45.3 million, or $0.36 per share in the first quarterReceived charter hire1 of $235.8 million in the quarter, including $5.5 million of profit shareAdjusted EBITDA2 of $143.8 million from consolidat...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.