SFL agreed to sell seven tankers to their charterer Trafigura, with deliveries planned across the final quarter of 2026 and the first quarter of 2027. The company expects about 275 million dollars in net cash after debt repayment and profit-sharing obligations. Existing charters are scheduled to end as ships are delivered. Individual vessel prices remain confidential, and the transaction has not completed all deliveries.
Shipowner SFL agreed to sell seven tankers to Trafigura, the company currently chartering the vessels. The package includes four LR2 product tankers and three Suezmax tankers. The LR2 ships were built in 2014 and 2015, while the Suezmax vessels were built in 2019. SFL acquired the ships in 2021 and 2022.[1], [2]
SFL expects approximately 275 million dollars in net cash after repaying debt associated with the ships and meeting existing profit-sharing obligations. The charters provide for profit sharing when vessels are sold profitably. Individual ship prices remain confidential, and a gross sale consideration has not been announced. The expected accounting gain is about 175 million dollars, a separate measure from net cash proceeds.[1]
Delivery to the buyer is planned for the fourth quarter of 2026 and the first quarter of 2027. Existing Trafigura charters are to terminate when each vessel is delivered. The agreement therefore precedes completion of the vessel transfers. Chief executive Ole B. Hjertaker discussed redeploying the cash under SFL’s long-term investment strategy. The company’s wider fleet also includes dry bulk ships, container vessels, car carriers and offshore drilling assets.[1]
