SFL Corporation Ltd. announced preliminary financial results for the quarter ended June 30, 2025, and declared its 86th consecutive quarterly dividend of $0.20 per share.
The company reported net income of $1.5 million, or $0.01 per share, for the second quarter.
Charter hire totaled $194 million, with approximately 87% derived from shipping and 13% from energy.
Adjusted EBITDA from consolidated subsidiaries reached $104 million, including $97 million from shipping and $7 million from energy, in addition to $8 million from associated vessel owning companies.
During the quarter, SFL agreed a five-year time charter extension for three 9,500 teu container vessels with Maersk, adding about $225 million to its backlog from 2026 through 2031.
The company also continued fleet renewal, selling and redelivering older dry bulk and container vessels for an aggregate of more than $200 million.
Ole B. Hjertaker, CEO of SFL Management AS, noted challenges related to the company’s drilling rig Hercules, which remains warm stacked due to oil price volatility and delayed employment opportunities. He said the company is “optimistic about finding new employment for the rig and continue[s] to explore strategic opportunities in parallel.” He added that recent vessel sales have increased available capital for new investments but reduced near-term cash flow generation, leading the board to set the second-quarter dividend at $0.20 per share.
SFL stated that since its inception in 2004 it has distributed $2.9 billion to shareholders through 86 consecutive quarterly cash dividends. The declared dividend will be paid on or around September 29, 2025, to shareholders of record as of September 12, 2025.
SFL Corporation Ltd. is a publicly listed shipping company incorporated in Bermuda and traded on the New York Stock Exchange. Its fleet includes tankers, bulk carriers, container vessels, car carriers, and offshore drilling rigs. The company operates under long-term charter agreements with various counterparties.
SFL Management AS – A management company based in Norway responsible for the day-to-day operations and commercial management of SFL Corporation’s assets and chartering activities.
A.P. Møller – Mærsk is a Danish integrated transport and logistics company headquartered in Copenhagen. It is among the world’s largest container shipping operators and also has activities in port operations, logistics, and related services.