SFL Extends Six Container Ship Charters, Adding $750M to Backlog
SFL sits 90% above its 52-week low of $6.73.
Summary
SFL extended charters on six 15,400 TEU container vessels with Hapag-Lloyd for seven additional years, adding about $750 million to its fixed-rate backlog and lifting the total to roughly $4.6 billion. The vessels now have coverage through 2035-2036 at firm rates, reflecting the strong container market. This follows SFL's Q2 report showing net income of $34 million and its 90th consecutive quarterly dividend. The extension locks in long-term cash flow from a top-five container line, strengthening earnings visibility and supporting the dividend. Watch for further backlog additions as the company continues to secure charters in a tight market.
At the time of this announcement, SFL was trading at $12.75 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $6.73 to $12.94. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.