SFL Corp Q1 2024 report

Announced 05/14

  • Rev of $236M
  • Adj EBITDA of $152M
  • Net Income of $45.3M
  • Newbuild additions - 3 LR2s + 2 Chemical tankers
  • Contract renewal on 6 or 7 container vessels


YTD additions to charter backlog a positive. Don’t know the charter levels, but renewal of mid-size to multiple large container vessels a good “steady state” development. Likewise, the new bond financing - usually includes a portion that is just a “debt punt”.


  • Always concerned about their debt.
  • For the offshore drilling segment, timing of events is a concern. One rig completes a drilling contract, and then heads back to Canada for new work. The second rig goes in for a $30M SPS + upgrades. How much do the two events overlap?