- Home
- Equities - Stocks - Shares
- Company Press Releases
- SFL - Acquisition of Car Carrier With Long Term Charter
SFL - Acquisition of Car Carrier with long term charter
03 Nov 2022 12:57 CET
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
SFL Corporation Ltd. (NYSE: SFL) ("SFL" or the "Company") announced today that
it 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 has recently taken delivery of four
modern Suezmax tankers and one newbuild eco-design feeder container vessel, all
on long term charters. The Company also expects to take delivery of another
newbuild eco-design feeder container vessel later in the fourth quarter. All
recently announced transactions are expected to have full revenue effect from
the first quarter 2023.
November 3, 2022
The Board of Directors
SFL Corporation Ltd.
Hamilton, Bermuda
Investor and Analyst Contacts:
Aksel Olesen, Chief Financial Officer, SFL Management AS
+47 23 11 40 36
André Reppen, Chief Treasurer & Senior Vice President, SFL Management AS
+47 23 11 40 55
Marius Furuly, Vice President - IR, SFL Management AS
+47 23 11 40 16
Media Contact:
Ole B. Hjertaker, Chief Executive Officer, SFL Management AS
+47 23 11 40 11
About SFL
SFL has a unique track record in the maritime industry and has paid dividends
every quarter since its initial listing on the New York Stock Exchange in 2004.
The Company's fleet of vessels is comprised of container vessels, car carriers,
tanker vessels, bulkers and offshore drilling rigs. SFL's long term distribution
capacity is supported by a portfolio of long term charters and significant
growth in the asset base over time. More information can be found on the
Company's website: www.sflcorp.com
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward looking statements. These statements are
based upon various assumptions, many of which are based, in turn, upon further
assumptions, including SFL management's examination of historical operating
trends, data contained in the Company's records and other data available from
third parties. Although SFL believes that these assumptions were reasonable when
made, because assumptions are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and are beyond
its control, SFL cannot give assurance that it will achieve or accomplish these
expectations, beliefs or intentions.
Important factors that, in the Company's view, could cause actual results to
differ materially from those discussed in the forward looking statements include
the strength of world economies, fluctuations in currencies and interest rates,
general market conditions in the seaborne transportation industry, which is
cyclical and volatile, including fluctuations in charter hire rates and vessel
values, changes in demand in the markets in which the Company operates,
including shifts in consumer demand from oil towards other energy sources or
changes to trade patterns for refined oil products, changes in market demand in
countries which import commodities and finished goods and changes in the amount
and location of the production of those commodities and finished goods,
technological innovation in the sectors in which we operate and quality and
efficiency requirements from customers, increased inspection procedures and more
restrictive import and export controls, changes in the Company's operating
expenses, including bunker prices, dry-docking and insurance costs, performance
of the Company's charterers and other counterparties with whom the Company
deals, the impact of any restructuring of the counterparties with whom the
Company deals, and timely delivery of vessels under construction within the
contracted price, governmental laws and regulations, including environmental
regulations, that add to our costs or the costs of our customers, potential
liability from pending or future litigation, potential disruption of shipping
routes due to accidents, political instability, terrorist attacks, piracy or
international hostilities, the length and severity of the ongoing coronavirus
outbreak and governmental responses thereto and the impact on the demand for
commercial seaborne transportation and the condition of the financial markets,
and other important factors described from time to time in the reports filed by
the Company with the United States Securities and Exchange Commission. SFL
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by law.
More information:
Access the news on Oslo Bors NewsWeb site
Source
SFL Corporation Ltd.
Provider
Oslo Børs Newspoint
Company Name
Ship Finance International L 18/23 FRN C, Ship Finance Interational Ltd 19/24 FRN, SFL Corporation Ltd. 20/25 FRN C, SFL Corporation Ltd. 21/26 7.25pct USD C
ISIN
NO0010831597, NO0010853609, NO0010872997, NO0010992944
Market
Oslo Børs