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SFL Corporation Ltd: 1 director
A director at SFL Corporation Ltd sold 43,708 shares at 11.730USD and the significance rating of the trade was 85/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cle...
SFL - Sale of seven handysize bulk carriers
SFL - Sale of seven handysize bulk carriers SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) today announced that it has agreed to sell its seven handysize dry bulk vessels to an Asian based buyer for an aggregate price of approximately $100 million. Delivery of the vessels is expected to take place before year end, and net cash proceeds are estimated to be more than $50 million after repayment of associated debt. The Company expects to record aggregate book gains of more than $40 million from the sale of the vessels. The vessels have cargo capacity between 32-34,000 dwt and ha...
SFL - Acquisition of modern Suezmax tankers and long term charters
SFL - Acquisition of modern Suezmax tankers and long term charters SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that it has agreed to acquire three Suezmax tankers in combination with long term time charters to a world-leading commodity trading and logistics company. The vessels are built in 2019 and have the latest eco-design features, including exhaust gas cleaning systems. The Company expects to take delivery of the vessels in the fourth quarter. The charter period of the vessels will be for minimum five years with extension options thereafter, ad...
SFL - Preliminary Q2 2021 results and quarterly cash dividend of $0.15...
SFL - Preliminary Q2 2021 results and quarterly cash dividend of $0.15 per share Preliminary Q2 2021 results and quarterly cash dividend of $0.15 per share Hamilton, Bermuda, August 18, 2021. SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended June 30, 2021. Highlights 70th consecutive quarterly dividend declared, $0.15 per shareOperating revenue of approximately $116.8 million, and net profit of $19.5 million in the second quarterReceived charter hire1 of approximately $141.5 million in the quarter from th...
SFL - Newbuild order for two additional LNG-fuelled car carriers again...
SFL - Newbuild order for two additional LNG-fuelled car carriers against long term charters SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that it has entered into long term charters with a leading Asia-based transportation company for two ultra-modern dual-fuel car carriers, designed to use liquified natural gas (LNG). The vessels are sister vessels of the two 7,000 CEU Pure Car and Truck Carriers under construction, chartered to the Volkswagen Group, and scheduled delivery from the shipyard is in Q1-Q2 of 2024. The aggregate construction cost will be approxi...
SFL - Invitation to Presentation of Q2 2021 Results
SFL - Invitation to Presentation of Q2 2021 Results SFL Corporation Ltd. ("SFL" or the “Company”) (NYSE: SFL) plans to release its preliminary financial results for the second quarter of 2021 on Wednesday, August 18, 2021. SFL plans to host a conference call and webcast for all stakeholders and interested parties on Wednesday, August 18, 2021, at 10:00 AM (EST) / 4:00 PM (CET). Relevant material will be available from the Investor Relations section of the Company’s website at on the same day. In order to listen to the presentation you may do one of the following: A: WebcastVisit the Inve...
- Mats Bye
SFL Corporation Ltd (Hold, TP: USD8.60) - Retaining container exposur...
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.
SFL - Acquisition of two 14,000 TEU container vessels and sale of vint...
SFL - Acquisition of two 14,000 TEU container vessels and sale of vintage feeder vessels SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that it has agreed to acquire two 14,000 TEU container vessels in combination with charters to a leading container line. The vessels are modern eco-design built in 2013 and 2014 with approximately 14,000 TEU carrying capacity, similar to four vessels in our fleet today. The Company expects to take delivery of the new vessels in the third quarter and the purchase price is confidential. SFL has already received financing indi...
- Mats Bye
SFL Corporation Ltd (Hold, TP: USD8.60) - Counting down to H2 2022
Last night SFL Corp announced that the West Hercules rig will be redelivered by Seadrill by H2 2022, and set to charter at USD40k–65k/day – above the debt-servicing cost of cUSD60k/day. In our view, this limits the risk of a DPS cut within the coming year. SFL has guaranteed USD83m of the USD182m bank debt on the unit. Beyond H2 2022, we see cash generation at risk if the unit is left without a contract for a sustained period.
SFL - Update on Seadrill Restructuring
SFL - Update on Seadrill Restructuring SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that the Company has entered into an amendment to its existing charter agreement (the “amendment agreement”) with subsidiaries of Seadrill Limited (“Seadrill”) for the harsh environment semi-submersible rig West Hercules. Under the amendment agreement with Seadrill, the West Hercules is contracted to be employed with an oil major into the second half of 2022 (the “charter period”), prior to being redelivered to SFL in Norway. Pursuant to the amendment agreement, SFL has agreed...
SFL - Acquisition of modern container vessels and long term charters
SFL - Acquisition of modern container vessels and long term charters SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announces that it has agreed to acquire two medium sized container vessels in combination with long term charters to a leading container line. The vessels are modern eco-design built in 2013 and 2014 with approximately 6,800 TEU carrying capacity, and the Company expects to take delivery of the vessels in the near term. The purchase price is confidential. The time charters will run for a period of minimum 6 years, and there are purchase options with profit s...
- Jørgen Lian
Financing 2°C Shipping - Financial risk of future regulations
We have worked with KLP and other partners in the Green Shipping Programme to assess the risk for financial stakeholders in various shipping technologies within the VLCC, Capesize and 10k TEU container segments. We find: 1) relative attractiveness of short-dated assets with scrubbers; 2) high uncertainty among newbuild alternatives in an uncertain regulatory environment; 3) that current IMO targets seem within reach in our base case; and 4) that further tightening of regulations is needed to ali...
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SFL - 2021 AGM Results Notification
SFL - 2021 AGM Results Notification SFL Corporation Ltd. (the “Company” or “SFL”) advises that the 2021 Annual General Meeting of the Shareholders of the Company was held on May 26, 2021 at 10:00 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2020 were presented to the Meeting. In addition, the following resolutions were passed: 1. To set the maximum number of Directors to be not more than eight. 2. To resolve that vacancies in the number of Directors be designate...
- Mats Bye
SFL Corporation Ltd (Hold, TP: USD8.60) - Fairly valued
We have raised our target price to USD8.60 (7.50) based on a stable quarterly USD0.15 DPS and a dividend yield of 7%. However, we believe this leaves the stock looking fairly valued, and reiterate our HOLD, with a 7% dividend yield in line with or below returns on some corporate bonds, and increases in payouts likely still some way off. In our view, SFL remains well funded, both for potential negative events from a Seadrill Chapter 11 process and for continued growth.
SFL - Options awarded to employees and board members
SFL - Options awarded to employees and board members SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) today announced that 480,000 options were awarded to employees and board members as part of the management incentive program. The options have been issued pursuant to the Company’s Share Option Scheme and will have a five-year term with a three-year vesting period. The initial strike price is $8.79 and the first options will be exercisable from May 2022. May 14, 2021 The Board of DirectorsSFL Corporation Ltd.Hamilton, Bermuda Investor and Analyst Contacts:Aksel Olesen, Chief Fin...
SFL - Preliminary Q1 2021 results and quarterly cash dividend of $0.15...
SFL - Preliminary Q1 2021 results and quarterly cash dividend of $0.15 per share Preliminary Q1 2021 results and quarterly cash dividend of $0.15 per share Hamilton, Bermuda, May 12, 2021. SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended March 31, 2021. Highlights 69th consecutive quarterly dividend declared, $0.15 per shareOperating revenue of approximately $109.1 million, and net profit of $31.5 million in the first quarterReceived charter hire1 of approximately $135 million in the quarter from the Company’s vesse...
SFL - Successful placement of 5-year inaugural sustainability-linked b...
SFL - Successful placement of 5-year inaugural sustainability-linked bonds SFL Corporation Ltd. today successfully placed USD 150 million in senior unsecured sustainability-linked bonds due 12 May 2026. The bonds will pay a coupon of 7.25% per annum, and net proceeds will be used to refinance existing bonds and for general corporate purposes. An application will be made for the bonds to be listed on Oslo Stock Exchange. DNB Markets acted as Sustainability Structuring Advisor and Joint Bookrunner, Arctic Securities and Pareto Securities acted as Joint Bookrunners and SMBC Nikko acted as C...
- Mats Bye
SFL Corporation Ltd (Hold, TP: USD7.50) - Adding USD200m of backlog
SFL Corp announced last night that it has entered into 10-year charters for two newbuild 7k CEU car carriers, to be delivered in 2023, using its two existing car carriers as a bridge solution for the counterparty. Returns look healthy, at an EV/EBITDA of c8x and an unlevered IRR close to 8% on our calculations. The transaction delivers on SFL’s recent pledge to look into investment opportunities with “a positive impact on the environment”.
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