SFL Corporation
SFL Corporation is a Bermuda-domiciled, NYSE-listed ship-owning company that acquires and leases approximately 60 maritime vessels — containers, tankers, car carriers, dry bulk, and offshore rigs — on long-term fixed-rate charters to investment-grade counterparties including Maersk, MSC, Hapag-Lloyd, Trafigura, Equinor, and Volkswagen.
- Company typePublic
- Founded2003
- HeadquartersHamilton, Bermuda
- Headcount11–50
- GTM typeB2B
- OfferingServices
What SFL Corporation does
SFL Corporation Ltd. is a Bermuda-domiciled, NYSE-listed ship-owning company (founded 2003, IPO 2004) that acquires and leases maritime vessels and offshore energy assets under long-term fixed-rate time charters to creditworthy counterparties. The diversified fleet of approximately 60 vessels spans five segments: container vessels (including five LNG dual-fuel 16,800 TEU newbuilds for delivery in 2028), crude and product tankers (Suezmax, LR2, MR), pure car and truck carriers including LNG-fueled PCTCs, dry bulk carriers, and offshore energy assets (the Hercules semi-submersible rig and the Linus jack-up rig). Customers include leading liner operators (Maersk, MSC, Hapag-Lloyd), commodity traders and energy majors (Trafigura, Vitol, Phillips 66, Equinor, ConocoPhillips), and automotive manufacturers and logistics operators (Volkswagen, K Line, Eukor, Stolt-Nielsen).
SFL's revenue model is built on long-duration contractual cash flows: approximately $3.7 billion in contracted charter backlog as of Q1 2026, a weighted average remaining charter tenor of close to 7 years, and roughly 66% of fixed-rate backlog attributable to investment-grade counterparties. Vessel pricing is not publicly disclosed and is negotiated contract by contract based on vessel specifications and market conditions; the company's stock and bond issuances, however, are priced publicly (July 2024: 8M shares at $12.50; January 2025: $150M sustainability-linked bonds at 7.75%; April 2026: $75M tap at 103.5% of par). Asset disposal gains supplement operating income — most recently, the December 2025 sale of two Suezmax tankers to Koch Industries generated a net gain of approximately $23 million.
The go-to-market is direct, relationship-driven enterprise sales: management negotiates multi-year time charters with world-class counterparties, leveraging a 22-year NYSE track record and the longest continuous quarterly dividend record in shipping (88 consecutive quarters since 2004, totaling approximately $2.8 billion in distributions). The company maintains an active investor relations program covering institutional investors and analysts, with Q1 2026 revenue of $174.48 million (down 6.56% year-over-year) reported through quarterly earnings webcasts and filings.
SFL Corporation firmographics
Firmographics- Name
- SFL Corporation
- Legal name
- SFL Corporation Ltd.
- Website
- https://www.sflcorp.com/
- Company type
- Public
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- SFL Corporation is a Bermuda-domiciled, NYSE-listed ship-owning company that acquires and leases approximately 60 maritime vessels — containers, tankers, car carriers, dry bulk, and offshore rigs — on long-term fixed-rate charters to investment-grade counterparties including Maersk, MSC, Hapag-Lloyd, Trafigura, Equinor, and Volkswagen.
- Ownership category
- akta.pro rank
SFL Corporation industry classification
Industry- Product category
- Maritime Vessel Leasing
- NAICS
- Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411), Deep Sea Freight Transportation (483111)
- SIC
- Water Transportation (4400), Finance Lessors (6172)
- akta.pro primary industry
- Boat & Marine Leasing (FSAKANAH)
- akta.pro secondary industry
- Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)
Keywords
Where SFL Corporation is headquartered
LocationHeadquarters
- HQ city
- Hamilton
- HQ country
- Bermuda
Offices2 records
Markets served
SFL Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Supply Chain, Personnel, Others
Revenue model
- Vessel Time Charter Revenue: SFL's primary revenue stream comes from time charter contracts on its owned and partially-owned vessels. Vessels are chartered to leading liner operators (Maersk, MSC, Hapag-Lloyd), energy companies (Trafigura, Vitol, Phillips 66), and automotive manufacturers/logistics operators (Volkswagen, K Line) on fixed-rate, multi-year contracts. Charter rates are negotiated based on vessel type, capacity, duration, and market conditions. The weighted average charter tenor is close to 7 years, providing long-term cash flow visibility.
- Asset Disposal Gains: SFL generates additional returns through strategic fleet management, including the sale of vessels at favorable times. For example, the company sold two 2015-built Suezmax tankers for $52 million and completed other vessel disposals, generating net gains of approximately $23 million.
- Drilling Contract Revenue: SFL's offshore energy assets (semi-submersible rig Hercules, jack-up rig Linus) generate revenue through drilling contracts with energy companies. The Hercules rig secured a $170 million drilling contract with a multinational oil and gas company for operations starting Q1 2027 in Canada.
- Bond Financing: SFL raises capital through senior unsecured sustainability-linked bond issuances. The company completed a $150 million bond issuance (7.75% coupon, due 2030) and a $75 million tap issue (due 2030, priced at 103.5% of par), bringing total outstanding to $225 million.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Quarterly Dividend: $0.20-$0.22 per share |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
SFL Corporation product offering
Product offeringCore offering
SFL Corporation Ltd. acquires, owns, and leases a diversified fleet of approximately 60 maritime vessels and offshore assets to world-class counterparties under long-term fixed-rate time charter contracts. The fleet spans five segments (container vessels, tankers, car carriers, dry bulk carriers, and offshore energy assets) and is chartered to leading liner operators, energy majors, commodity traders, and automotive manufacturers, generating predictable contracted cash flows that fund a consistent quarterly dividend.
Product overview
SFL Corporation operates as a diversified maritime vessel ownership and leasing company with a fleet of approximately 57 vessels across five main segments: container vessels, tankers (including crude, product, and chemical), car carriers, dry bulk carriers, and offshore energy assets. The company provides vessels on long-term fixed-rate charters to world-class counterparties including Maersk, MSC, Hapag-Lloyd, Trafigura, Vitol, Equinor, ConocoPhillips, Volkswagen, and K Line. The fleet portfolio includes modern dual-fuel LNG vessels, with newbuilds scheduled for delivery in 2028. SFL's business model emphasizes contracted cash flows through multi-year charter agreements, with a weighted average charter tenor of close to 7 years and approximately $3.7 billion in contracted revenue backlog.
Differentiator
Problem solved
Functional benefit
Products and services
- Container Vessels
Quantifiable outcome
- Dividend payments for 88 consecutive quarters (over 22 years) totaling approximately $2.8 billion
- +3 more outcomes
Companies that use SFL Corporation
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles4 records
SFL Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
SFL Corporation partnerships and signals
Strategic signalScale indicators9 records
Recent moves7 records
Expansion highlights5 records
SFL Corporation competitors and assessment
Company assessmentDirect peers
- Star Bulk Carriers Corp. Star Bulk is a global dry bulk carrier owner with a fleet of Newcastlemax, Capesize, Kamsarmax, Panamax, and Ultramax vessels. It is directly comparable to SFL's dry bulk segment serving industrial commodity shippers.
- Costamare Inc. Costamare owns and charters container vessels on long-term time charters to liner operators including Maersk, MSC, Hapag-Lloyd, and others. It runs the same ship-owning-and-leasing model with a similar investment-grade counterparty base, making it one of the closest direct comparables to SFL's container segment.
- International Seaways, Inc. International Seaways owns and operates a diversified tanker fleet (VLCC, Suezmax, Aframax/LR2, MR) on time and voyage charters. Its diversified crude/product tanker model closely parallels SFL's tanker segment serving commodity traders and energy majors.
- Danaos Corporation: Danaos is a containership owner that charters vessels to liner operators under multi-year contracts. Its business model of long-term fixed-rate container vessel leasing directly mirrors SFL's container fleet strategy with shared exposure to Maersk and similar customers.
- Scorpio Tankers Inc. Scorpio Tankers is a large product tanker owner with a fleet of MR and LR2 vessels chartered to global commodity traders and oil majors. Its product tanker focus overlaps directly with SFL's product tanker fleet chartered to Trafigura, Vitol, and Phillips 66.
- Frontline plc: Frontline is the world's largest crude tanker operator and SFL's former parent (SFL was spun off from Frontline in 2003). Both companies are Bermuda-incorporated, NYSE-listed tanker-focused operators, and share overlapping board and management lineage, providing direct historical and operational comparability.
- Ardmore Shipping Corporation: Ardmore owns MR product tankers and chemical carriers and charters them to commodity traders and energy companies. It is directly comparable to SFL's product and chemical tanker business, including similar exposure to Trafigura and Stolt-Nielsen-type counterparties.
- DHT Holdings, Inc. DHT is a pure-play crude tanker owner operating VLCCs on a mix of spot and time charters out of Bermuda. It is comparable to SFL's crude tanker segment, particularly the Suezmax tankers time-chartered to Trafigura, with similar customer base and capital allocation philosophy.
- Teekay Corporation: Teekay operates a global fleet of tankers and LNG carriers on long-term charters, including shuttle tankers and FSO units. It is comparable to SFL's offshore and tanker segments, with overlapping exposure to energy majors and similar offshore vessel categories.
Emerging players
- Golar LNG Limited: Golar LNG owns and charters LNG carriers and FLNG infrastructure, with growing exposure to LNG-fueled shipping and energy infrastructure. While not a direct shipowner peer, Golar is comparable as a Bermuda-based long-term-charter maritime infrastructure company with LNG-fuel-transition relevance to SFL's dual-fuel fleet strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
SFL Corporation social profiles
Digital presenceSFL Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
SFL Corporation leadership team
Management profileNumber of profiles
Profiles12 records
SFL Corporation subsidiaries and ownership
Company hierarchySubsidiaries1 record
SFL Corporation funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SFL Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SFL Corporation
What does SFL Corporation do?
SFL Corporation Ltd. acquires, owns, and leases a diversified fleet of approximately 60 maritime vessels and offshore assets to world-class counterparties under long-term fixed-rate time charter contracts. The fleet spans five segments (container vessels, tankers, car carriers, dry bulk carriers, and offshore energy assets) and is chartered to leading liner operators, energy majors, commodity traders, and automotive manufacturers, generating predictable contracted cash flows that fund a consistent quarterly dividend.
Is SFL Corporation a public or private company?
SFL Corporation is a public company. It is classified as public and is currently operating.
When was SFL Corporation founded?
SFL Corporation was founded in 2003. It employs 11 to 50 people.
Where is SFL Corporation based?
SFL Corporation is headquartered in Hamilton, Bermuda.
How does SFL Corporation make money?
Four revenue lines are on record. Vessel Time Charter Revenue is the primary driver. The others are asset Disposal Gains, drilling Contract Revenue and bond Financing.
Who are SFL Corporation's main competitors?
Direct peers on record are Star Bulk Carriers Corp., Costamare Inc., International Seaways, Inc., Danaos Corporation, Scorpio Tankers Inc., Frontline plc, Ardmore Shipping Corporation, DHT Holdings, Inc. and Teekay Corporation. Golar LNG Limited is listed as an emerging player.
Does SFL Corporation have an API?
No public API is recorded for SFL Corporation.
What industry is SFL Corporation in?
SFL Corporation's product category is Maritime Vessel Leasing. Its primary akta.pro industry code is FSAKANAH, Boat & Marine Leasing, with a secondary code of EUALABAJ, Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters). Its NAICS code is 532411 and its SIC code is 4400.