Sfl News

Frontline’s Ørjan Svanevik has resigned as Director of the company and has been replaced by Mikkel Storm Weum.Weum is employed as an Investment Director in Seatankers Management Norway AS, responsible for sale and purchase, newbuildings and projects. He is also serving as a director on the Board of NYSE listed Flex LNG Ltd and on the Board of NYSE listed Star Bulk Carriers Corp.Prior to being employed by Seatankers Management AS, Weum served as Senior Vice President, responsible for Business Development in SFL Management.

SFL posts Q3 2025 revenue of $178 million and net income of $8.6 million; declares 87th consecutive quarterly dividend of $0.20 per share.Contracted charter backlog reaches $4 billion with a weighted average term of 6.5 years, two-thirds backed by investment-grade clients.Fleet optimization and $100 million in vessel efficiency and LNG dual-fuel investments underscore SFL’s long-term sustainability strategy.SFL Corporation Ltd. reported third-quarter 2025 operating revenues of $178 million and net income of $8.6 million…

SFL Q2 net income of $1.5 mln beats analyst expectations, per LSEG data Adjusted EBITDA of $104 mln misses analyst estimates, per LSEG dataCompany says sold older vessels, increasing capital but reducing near-term cash flow SFL lowers dividend to $0.20 per share, from $0.27 per share in Q1, reflecting cash flow changesThe company sees market uncertainty impacting near-term results due to oil price volatility SFL optimistic about future employment for legacy drilling rig Hercules Company increasing capital for new investments by selling vesselsFLEET RENEWAL - SFL sold and redelivered older vessels, increasing available capital but reducing near-term cash flowCHARTER EXTENSIONS - Five-year time charter extension for three container vessels added $225 mln to backlogDRILLING RIG CHALLENGES - M

The Norwegian Space Agency (NOSA) has awarded a contract to SFL Missions Inc. to develop the AISSat-4 maritime ship tracking microsatellite for launch in less than one year. AISSat-4 is needed to expand operational capacity in Norway’s maritime situational awareness network.AISSat-4 is being developed on SFL’s SPARTAN 6U nanosatellite platform and will carry a single payload—a miniaturized Automatic Identification System (AIS) receiver built by Kongsberg Seatex of Trondheim, Norway.

Golden Ocean Group Limited declared the purchase options for eight Capesize vessels under the long-term charter-in agreements with subsidiaries of SFL Corporation Ltd. The total purchase price is $112 million en bloc, and the options have been declared in connection with the 10th anniversary of the charter-in agreements. The acquisition will be financed through a new $90 million revolving credit facility subject to customary documentation, closing procedures, and cash on hand. It is expected that the acquisition will be completed during Q3 2025.

Canada’s Space Flight Laboratory (SFL) has launched Norway’s NorSat-4 maritime monitoring microsatellite.The seventh spacecraft developed for the Norwegian Space Agency (NOSA) by SFL, NorSat-4 carries a fifth-generation Automatic Identification System (AIS) ship tracking receiver and a first-of-its-kind low-light imaging camera.Built on SFL’s 35-kg DEFIANT microsatellite bus, NorSat-4 launched from Vandenberg Space Force Base in California aboard the SpaceX Transporter-12 rideshare…

Esgian provides an update on new jack-up contracts in the North Sea and Nigeria in its Week 33 Rig Analytics Market Roundup.Report SummaryContractsBorr Drilling 400-ft jackup Prospector 1 has secured a contract extension with ONE-Dyas for work offshore the UK and the Netherlands, scheduled to run from February to April 2025.Shelf Drilling 300-ft jackup Harvey H. Ward has received a notice of suspension from Saudi Aramco for up to one year.Shelf Drilling 350-ft jackup Shelf Drilling…

Shipowner SFL Corporation on Wednesday announced it has agreed to acquire three new LR2 product tankers in combination with long term time charters to an energy and commodities company.The vessels are currently under construction in China, with the latest eco-design features, SFL said, noting the sellers are affiliates of the company’s largest shareholder Hemen Holding Ltd.SFL said it will acquire the three ships for an aggregate purchase price of approximately $230 million, in…

Denmark-based maritime safety, data collection and ship performance monitoring company Danelec Marine reports it has completed a turnkey project from installation to commissioning of a cloud-connected ship performance monitoring solution on +120 merchant ships operated by SeaTankers Group (Frontline, Golden Ocean Group, SFL Corp, Avance Gas, FlexLNG).The solution, which combines Danelec’s Kyma Shaft Power Meter, Vessel Remote Server (VRS) and DanelecConnect maritime IoT infrastructure…

Shipowner SFL Corporation announced on Friday it has sold and delivered a 2010-built suezmax oil tanker to an undisclosed third party as part of its fleet renewal plans. SFL said its net proceeds from the sale of the 156,000 DWT Everbright are approximately $41.1 million, and the vessel was debt free at the end of the first quarter.The NYSE-listed company said it expects to record a book gain of approximately $6.4 million, which it will reinvest in new assets."Divesting of older vessels is part of the company’s strategy to continuously renew and diversify its fleet," SFL said in a statement.

Guangzhou Shipyard International (GSI), part of China State Shipbuilding Corp, has recently taken the lead in orders LNG dual-fuel pure car truck carriers (PCTCs), reports China Daily.The company now has contracts to build 25 PCTCs after a recent contract signing for three 8,600 ceu dual-fuel PCTCs for an unnamed Asian company. Other orders include three 7,000 ceu dual-fuel PCTCs with Guangzhou Yuanhai Automobile Shipping and three LNG dual-fuel 7,000 ceu newbuilds from COSCO.Of the yards 25 PCTC orders, 11 are being built for overseas companies, including South Korea's H-Line Shipping.

SFL Corporation Ltd. has agreed to acquire a Pure Car Truck Carrier (“PCTC”) in combination with a long term time charter to a leading car carrier operator until 2028.The company expects to take delivery of the vessel during the fourth quarter. The fixed rate charter backlog will increase by approximately $65 million, with the possibility of additional upside from profit share related to fuel savings from the vessel’s scrubber. In addition to the PCTC transaction, SFL said it had recently taken delivery of four modern Suezmax tankers and one newbuild eco-design feeder container vessel…

Tanker shipping company Frontline announced Friday that it has agreed with shipowner SFL Corporation to terminate the long term charters for the 2004-built very large crude carriers (VLCCs) Front Force and Front Energy upon the sale and delivery of the vessels by SFL to an unrelated third party.Frontline said it has agreed to a total compensation payment to SFL of approximately $4.5 million for the termination of the current charters.The charters with SFL are expected to terminate in the second quarter of 2022.

Shipowner SFL Corporation Ltd. announced Monday that it has agreed to charter out six 14,000 TEU containerships to German container shipping line Hapag-Lloyd AG for a fixed period of five years, following the expiry of the vessels’ existing charters to another container line in 2023-2024.The vessels will have charter coverage until 2028-2029 at firm rates, reflecting the current strong container market, SFL  said.The new time charter contracts will add approximately $540 million to SFL’s fixed rate charter backlog, increasing the backlog to $3.8 billion, the company added. Ole B. Hjertaker, CEO of SFL Management AS, said, "We are excited to build a long term relationship with Hapag-Lloyd, who is the world’s fifth largest container line.

Gary Vogel, chief executive officer of Eagle Bulk Shipping Inc., has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2022.The 2022 Commodore Award, given each year to a person in the international maritime industry who has contributed to the growth and development of the industry, will be presented on March 31, at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and expo, in Stamford, Conn..Vogel has served as CEO and director of Eagle Bulk Shipping Inc. (NASDAQ: EGLE) since September, 2015.

SFL Corporation Ltd. on Monday announced it has agreed to acquire four Aframax LR2 product tankers from tanker shipping company Frontline for an aggregate purchase price of $160 million in combination with long term time charters to a subsidiary of commodity trading and logistics company Trafigura.The vessels are built in 2014 and 2015 and have modern eco-design features including exhaust gas cleaning systems, SFL said. The vessels are expected to be delivered to their new owner between December 2021 and February 2022.Hemen Holdings Ltd., who owns approximately 20% of the SFL’s issued and outstanding shares, is also a major shareholder in the seller Frontline.The charter period of the vessels will be for minimum five years with extension options thereafter…

Shipowner SFL Corporation on Tuesday announced it has sold seven handysize dry bulk vessels to an Asian-based buyer for an aggregate price of approximately $100 million.The 32,000-34,000 dwt capacity ships, built between 2011 and 2013, have been employed in the spot market the last five years after redelivery from their initial charters. "With limited long term chartering opportunities for small dry bulk vessels, the intention has been to trade the vessels in the spot market until the markets improved," New York-listed SFL said.Ole B. Hjertaker, CEO of SFL Management AS, said, "Our primary business strategy is to own and charter out vessels long term to strong counterparties, and we have added more than $850 million to our charter backlog in 2021.

Shipowner SFL Corporation has agreed to buy three Suezmax tankers in combination with long-term time charters with what SFL said was "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," SFL, formerly known as Ship Finance International, said. It did not say how much it would pay for the…

SFL Corporation said Wednesday it had 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 approximately $155 million, and the charter period will be ten years from the delivery of the vessels…

Shipowner SFL Corporation has agreed to buy a newbuild 308,000 dwt very large crude carrier (VLCC), in combination with a seven-year bareboat charter with an unnamed oil major, adding nearly $60 million to SFL’s fixed-rate charter backlog.The vessel is expected to be delivered from the shipyard in China in the second quarter and will have full cash flow effect in Q3 2020. "The net purchase price will be $65 million, which is significantly below current broker estimates for VLCC resales…

Bermuda-based SFL Corporation has sold and delivered Front Hakata, a 2002-built very large crude carrier (VLCC).The international ship owning and chartering company said that the net cash proceeds to SFL was approximately $30 million after a compensation to Frontline Ltd. for the early termination of the charter.SFL Corp, formerly Ship Finance International, does not expect a material book effect from the transaction.The Front Hakata was the last vessel in the fleet remaining from the Company’s inception in 2004 and divesting of older vessels is part of SFL’s strategy to continuously renew and diversify its fleet.Following this transaction…

Bermuda-based ship-owning and ship chartering firm Ship Finance International Limited (SFL) has agreed to purchase three very large crude carriers (VLCCs) from Norwegian investment company Hunter Group. The 300,000 dwt oil tankers are currently being constructed by South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME). Hunter Group placed the order for the VLCCs last year. SFI will pay almost $60 million for each tanker and a total of $180 million for all three. The vessels are scheduled to be delivered within the next two months.The tankers will be fitted with exhaust gas cleaning systems to reduce the emissions of sulfur oxides (SOx) and other pollutants, and to meet IMO regulations.

The international ship owning and chartering company Ship Finance International (SFL) announced that it has agreed to acquire three 300,000 dwt crude oil carriers, or VLCCs, currently under construction at Daewoo Shipbuilding & Marine Engineering (DSME) in Korea.The Bermuda-headquartered company said that the net purchase price will be $180 million, or $60 million per vessel and they are expected to be delivered to SFL within the next two months.The vessels were ordered in 2018 by affiliates of the Norwegian listed company Hunter Group, and have all the latest eco-design features, including exhaust gas cleaning systems. After delivery…