SFL Reports Q2 Earnings and Announces New Charter Agreements
Senatorial Fleet Ltd (SFL) reported second-quarter revenues of $201 million with an EBITDA equivalent cash flow of $130 million, a 20% increase from the first quarter. The company also declared a dividend of $0.22 per share and celebrated its 90th consecutive quarterly payout. Over the past year, SFL has generated $461 million in EBITDA, demonstrating strong operational stability. SFL secured new three-year charters for two older car carriers linked to an Asian-based global liner company, adding $83 million to its charter backlog of $3.8 billion. The vessels are maintained at a high standard despite being 20 years old and remain attractive in the premium charter market. Additionally, SFL has ordered four dual-fuel car carriers with delivery expected by 2029. The company's robust financial performance is supported by its diversified fleet and strong counterparty profile, where two-thirds of the backlog involves investment-grade credit customers.
