Supported by a significant contract backlog valued at $3.2 billion, SFL Corporation Ltd (SFL), a maritime asset company with backing from industry magnate John Fredriksen, has announced an increase in its dividend payouts, marking a testament to its sustained profit growth. Under the leadership of CEO Ole Hjertaker, SFL Corporation has made a notable declaration of its 80th consecutive quarterly dividend, setting the dividend rate at $0.26 per share. This announcement underscores the company’s robust financial health and its commitment to returning value to its shareholders. SFL Corporation Ltd, which is listed on the New York Stock Exchange, has consistently demonstrated its ability to navigate the complexities of the maritime industry, achieving a profitable conclusion to the year. This success is largely attributed to its expansive contract backlog, which plays a crucial role in ensuring steady profit growth and financial stability. The declaration of the quarterly dividend, especially noteworthy as it marks the 80th in a series of consecutive payments since the company’s inception in 2003, serves as a significant milestone and reflects SFL Corporation Ltd’s (SFL) enduring commitment to its shareholders. This latest dividend payout of $0.26 per share represents more than just a financial transaction; it signifies the company’s resilience, strategic foresight, and the effective execution of its business model. For investors, this consistent dividend record is indicative of SFL Corporation Ltd’s (SFL) reliable performance and its position as a leading tonnage provider in the maritime sector. As SFL Corporation Ltd continues to leverage its substantial contract backlog to support further profit growth, shareholders can look forward to the SFL Corporation Ltd’s (SFL) sustained prosperity and its potential for continued dividend increases in the future. 17-February-2024
John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) has recently secured significant charter agreements and vessel upgrades with major shipping lines Maersk and Hapag-Lloyd. CEO Ole Hjertaker-led SFL Corporation Ltd (SFL) has extended the charter for the 9,500-TEU Maersk Sarat, built in 2013, until mid-2025. In a notable deal with Hapag-Lloyd, a leading German liner operator, Bermuda-registered SFL Corporation Ltd (SFL) has arranged a $60 million upgrade for six 14,000-TEU container ships. The first of these vessels, the 14,372-TEU MV Thalassa Partis, also built in 2013, is set to commence its charter with Hapag-Lloyd later this month, under the new name MV Savannah Express. These six vessels, including the newly renamed MV Savannah Express, were previously under charter with Taiwan’s Evergreen Marine. Following the expiration of their contracts with Evergreen, John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) has successfully fixed them with Hapag-Lloyd for a five-year period, marking a strategic shift and a significant engagement for SFL Corporation Ltd (SFL) in the container shipping sector. 10-November-2023
John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) CEO Ole Hjertaker elucidates that their enterprise’s scope extends beyond mere scrutiny of fleeting market trends. John Fredriksen’s esteemed leaseback entity, SFL Corporation Ltd (SFL), underscores the vitality of a decade-long perspective in delineating its financial allocations. During a symposium dialogue, SFL Corporation Ltd (SFL) CEO Ole Hjertaker conveyed his persistent impartiality regarding the acquisition of new maritime assets. 23-August-2023
John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) has meticulously refurbished its drilling rig in anticipation of a promising contract, thus registering a profit for the second quarter. For the 78th successive quarter, Bermuda-registered New York-listed SFL Corporation Ltd (SFL) remains a stalwart in the maritime leasing domain. The resurgence of offshore exploration coupled with heightened production activities has infused CEO Ole Hjertaker-led Bermuda-registered SFL Corporation Ltd (SFL) with renewed optimism, fortifying its cash influx commencing this quarter. While the second quarter witnessed standard operations for the Fredriksen-endorsed leasing firm, recent agreements inked for its drilling apparatuses have augmented its contract backlog by an impressive $200 million. 17-August-2023
John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) reported that the company placed a $150 million sustainability-linked unsecured bond due in 2027. $150 million is anticipated to refinance existing debt or general corporate purposes. Bermuda-registered New York-listed SFL Corporation Ltd (SFL) declared the arrangement just days after commencing talks with fixed-income investors. CEO Ole Hjertaker-led Bermuda-registered New York-listed SFL Corporation Ltd (SFL) approved bond comes with a coupon of 8.875% and will be issued at a price of 99.58%. Lately, John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) arranged series of conferences with investors. 19-January-2023
John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) has bought two container ships for charter to Maersk and a car carrier. Bermuda-registered New York-listed SFL Corporation Ltd (SFL) has the financial firepower to seek more investments. SFL Corporation Ltd (SFL) has a bunch of cash to spare for new ship investments. At the end of Q3 2022, CEO Ole Hjertaker-led Bermuda-registered New York-listed SFL Corporation Ltd (SFL) $179 million of cash and cash equivalents. New York-listed tonnage provider SFL Corporation Ltd (SFL) is a sale and leaseback specialist. Recently, SFL Corporation Ltd (SFL) closes in on $144 million in suezmax tanker financing. John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd’s (SFL) fleet has allowed the company to do numerous replication dealings with several shipping industry-leading counterparties. 16-November-2022
Bermuda-registered New York-listed SFL Corporation Ltd (SFL) acknowledges that undiversified shipowners are programmed to go bankrupt. New York-listed tonnage provider SFL Corporation Ltd (SFL) accomplishes business in diverse segments to avoid creating sudden acquisitions when banks are eager to lend capital. CEO Ole Hjertaker-led Bermuda-registered New York-listed SFL Corporation Ltd (SFL) believes that the shipowners with fleets that are concentrating on one segment do not have a promising future ahead of them. Unfortunately, preponderance of New York-listed shipping giants are undiversifed shipowners. These undiversifed shipowners are doomed financially because they usually acquire the wrong vessels when banks are most inclined to finance investments. 19-August-2022
China Development Bank Financial Leasing (CDB Leasing), a Hong Kong-listed entity, has recently expanded its maritime portfolio with the acquisition of nine Ultramax bulker newbuildings from New Dayang Shipbuilding. This move by the leasing arm of the state-owned China Development Bank signifies a significant investment in bulk carriers, a sector in which it already holds a substantial presence. CDB Leasing has committed $261 million for these 60K Ultramax bulk carriers, which equates to approximately $29 million per ship. The deal reflects favorable terms for CDB Leasing, as the market value of these vessels, according to an independent third-party appraisal, is around $279 million. The company attributes the advantageous pricing to its long-standing, stable cooperation with the seller, which facilitated early negotiations and consideration for the ships. To finance this acquisition, CDB Leasing plans to utilize a combination of its own funds and commercial bank loans, as communicated to its shareholders. This latest investment follows closely after CDB Leasing’s recent agreement to purchase seven handysize bulkers from John Fredriksen-backed New York-listed tonnage provider SFL Corporation Ltd (SFL) for $100 million. As of the end of 2020, CDB Leasing reported control over a fleet of 110 ships. This fleet is comprised of 85 vessels under operating leases and 25 under finance leases. Bulk carriers form the majority of its fleet, accounting for over 75%, with containerships constituting around 14%. The fleet also includes three LNG carriers, two dredgers, and a cruise ship, highlighting the diversity of its maritime assets. New Dayang Shipbuilding, the shipyard executing these newbuildings for CDB Leasing, has also recently secured a contract for four Ultramax bulker newbuildings from Wah Kwong Maritime Transport Holdings, a Hong Kong-based shipowner. The total cost for this quartet is around $120 million, with deliveries scheduled between 2023 and 2024. New Dayang Shipbuilding transitioned to state ownership in 2018 following its acquisition by Sumec Marine, a subsidiary of Beijing’s China National Machinery Industry Corp and a former creditor of Dayang Shipbuilding. This background further cements the shipyard’s position in the state-supported maritime construction sector in China. 1-October-2021
Bermuda-registered New York-listed SFL Corporation Ltd (SFL) sold handysize bulk carriers for a total of $100 million to CDB Leasing (China Development Bank Financial Leasing. Hong Kong-listed CDB Leasing (China Development Bank Financial Leasing) confirmed in a regulatory filing that the company acquired SFL Corporation Ltd. (SFL) controlled handysize bulk carriers:
2013 built handysize bulk carrier 31K DWT MV SFL Dee
2012 built handysize bulk carrier 31K DWT MV SFL Clyde
2012 built handysize bulk carrier 33K DWT MV SFL Kent
2012 built handysize bulk carrier 34K DWT MV SFL Trent
2012 built handysize bulk carrier 31K DWT MV SFL Tyne
2011 built handysize bulk carrier 31K DWT MV SFL Medway
2011 built handysize bulk carrier 34K DWT MV SFL Medway
CDB Leasing (China Development Bank Financial Leasing) is going to take the delivery of handy bulk carriers at the end of 2021. CDB Leasing (China Development Bank Financial Leasing) will finance the ships with cash and commercial bank loans. Freight rates for handysize bulk ships have increased due to robust demand for commodities, port congestions. SFL Corporation Ltd. (SFL) employed handy bulk carriers at the spot market. Ole B Hjertaker-led SFL Corporation Ltd. (SFL) thinks this is a great time for the sale of handy bulk carriers. Currently, CDB Leasing (China Development Bank Financial Leasing) controls around 110 ships. 14-September-2021
SFL Corporation Ltd. (SFL), a company registered in Bermuda and listed in New York, is on track to repay its maturing debts following a successful bond sale that raised $67.5 million. The leasing firm, backed by Fredriksen, engaged in multiple discussions with fixed-income investors over the past week. SFL Corporation Ltd., steered by John Fredriksen, anticipates using the proceeds from this placement of senior unsecured bonds to pay off debt securities that are nearing maturity. These funds are earmarked for broad corporate objectives, as stated by the Oslo-listed maritime leasing behemoth in a recent statement. Earlier, Fearnleys Securities had reported that SFL Corporation Ltd. is poised to repay senior unsecured bonds amounting to $55 million, due on June 22. The newly issued bonds, set to mature in January 2025, are priced at Nibor plus 4.40%. SFL Corporation Ltd., previously known as Ship Finance International, plans to list these bonds on the Oslo Stock Exchange. The bond issuance was managed by DNB Markets, Nordea, SEB, Arctic Securities, and Danske Bank as joint lead managers. This move comes after a series of interactions between SFL Corporation Ltd. (SFL) and fixed-income investors in Nordic countries. Under the leadership of CEO Ole Hjertaker, SFL Corporation Ltd. (SFL) has been notably active in the Oslo bond market. In the third quarter of the previous year, SFL Corporation Ltd. (SFL) finalized a $9.6 million tap issue on a bond loan maturing in 2023, following an issuance of bonds worth $67.8 million due in June 2024. At the end of the third quarter, SFL Corporation Ltd. (SFL) reported a long-term debt exceeding $1.32 billion. SFL Corporation Ltd. (SFL) boasts a diverse fleet of over 90 ships, including tankers, bulkers, container ships, and offshore assets, mostly under long-term charters. 5-January-2020