Recent Updates — SFL

The Borgarting Court of Appeal has ruled that Seadrill breached its contract regarding the redelivery of the drilling rig Hercules in December 2022. The court ordered Seadrill to pay approximately NOK 525 million ($55 million), covering compensation, late payment interest, and legal costs. This judgment largely upholds a February 2025 ruling by the Oslo District Court. SFL has been awarded its full legal costs for proceedings at both courts. Either party may appeal to the Supreme Court of Norway within one month, though leave is granted only in limited circumstances. SFL Corporation Ltd. operates in the maritime industry, owning and chartering a fleet that includes tanker vessels, bulkers, container ships, car carriers, and offshore drilling rigs.

SFL Corporation has agreed to sell four LR2 product tankers and three Suezmax tankers to Trafigura, with deliveries scheduled in Q4 2026 and Q1 2027. The transaction generates approximately $275 million in net cash proceeds after profit share distributions and debt repayment, alongside an estimated book gain of $175 million. SFL plans to reinvest the capital into new accretive investments to enhance its long-term distribution capacity. The company operates in the maritime transportation industry, managing a diversified fleet of tankers, bulkers, container vessels, car carriers, and offshore drilling rigs.

SFL Corporation has agreed to build two 93,000 cubic meter Very Large Ammonia Carriers at an aggregate yard construction cost of approximately $216 million. Delivery is scheduled for the second quarter of 2028. Concurrently, the company secured long-term time charters with a European investment-grade oil major, adding a minimum of $162 million to its fixed-rate charter backlog. The initial charter duration will be determined within six months, with options to extend by up to four years. This transaction marks SFL's entry into the ammonia shipping segment and contributes to over $1.3 billion in new fixed-rate charter backlog added in 2026. SFL operates in the maritime transportation industry, owning and operating a diversified fleet of tankers, bulkers, container vessels, car carriers, and offshore drilling rigs.

SFL Corporation Ltd. announced on September 11, 2026, that it has agreed to extend the time charters for six 15,400 TEU container vessels with Hapag-Lloyd AG for an additional seven years. The extension secures firm rates until 2035-2036 and adds approximately $750 million to the company's fixed rate charter backlog, bringing the total backlog to approximately $4.6 billion. This transaction reinforces SFL's long-term earnings visibility and distribution capacity within the maritime shipping industry.

SFL Corporation Ltd. reported preliminary Q2 2026 results with total operating revenues of $201 million, adjusted EBITDA of $130 million, and net income of $34 million ($0.25 per share). The Board declared a quarterly cash dividend of $0.22 per share, the 90th consecutive such payment. Financially, SFL raised approximately $78 million via a tap issue of senior unsecured bonds due 2030 and redeemed $150 million in maturing bonds. It also secured $100 million in net proceeds through its dividend reinvestment and at-the-market equity programs. Operationally, the company fixed long-term charters for vessels SFL Composer and SFL Conductor and ordered four new LNG Dual-Fuel PCTC vessels. SFL operates in the seaborne transportation industry, owning and managing a diversified fleet of container ships, car carriers, tankers, bulkers, and energy rigs.