SFL Agrees To Acquire Three New LR2 Product Tankers For $230M, Secures Long-Term Charters With Leading Energy Company
Portfolio Pulse from Charles Gross
SFL Corporation Ltd. (NYSE:SFL) has announced the acquisition of three new LR2 product tankers for $230 million, along with securing long-term charters with a leading energy company. The tankers, featuring the latest eco-design, are under construction in China and are being purchased from affiliates of SFL's largest shareholder, Hemen Holding Ltd.
March 20, 2024 | 10:53 am
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POSITIVE IMPACT
SFL Corporation Ltd. is expanding its fleet with three new LR2 product tankers for $230 million and has secured long-term charters with a leading energy company.
The acquisition of three new LR2 product tankers represents a significant expansion of SFL's fleet, enhancing its service capabilities and potentially increasing its revenue through long-term charters with a leading energy company. The investment in eco-designed ships also aligns with growing environmental concerns and regulations in the shipping industry, potentially offering SFL a competitive advantage. The purchase from affiliates of its largest shareholder suggests a strategic alignment and possibly favorable terms, further supporting a positive outlook.
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