Group 1 - The European Commission plans to drop the effective ban on new combustion-engine cars from 2035, marking a significant retreat from its green policies due to pressure from the auto sector [1][2] - The proposal allows continued sales of non-electric vehicles, including plug-in hybrids and range extenders, as carmakers in Germany and Italy seek to ease regulations [2][3] - Volkswagen supports the proposal, stating it is economically sound and aligns with market conditions, while also advocating for support of small electric vehicles and more flexible targets for 2030 [3] Group 2 - The new EU targets would require a 90% cut in CO2 emissions from 2021 levels, a shift from the previous requirement for zero emissions from all new cars and vans by 2035 [5] - Automakers will need to offset remaining emissions using lower-carbon materials and synthetic or non-food biofuels, with a three-year window from 2030 to 2032 to achieve a 55% reduction in car CO2 emissions [6] - The EU's decision follows Ford's announcement of a $19.5 billion writedown due to the cancellation of several EV models, indicating a complex landscape for EVs in Europe [7][8]

Financial Highlights - SFL announced a dividend of $0.20 per share for the quarter[5, 25] - The company reported a net income of $9 million, resulting in earnings per share of $0.07[5] - Gross revenue reached $178 million[5] - Adjusted EBITDA was $113 million[5] Contracted Revenue and Backlog - The company has a contracted backlog of $40 billion[5, 8, 25] - Approximately 67% of the contracted backlog is with investment-grade counterparties[8] Fleet and Operations - The company's portfolio includes 30 container vessels, 18 tankers, 7 car carriers, and 2 energy assets[8] - The average charter term for container vessels is 72 years, for tankers 67 years, for car carriers 35 years, and for energy assets 33 years[8] - Utilization rates for container vessels, car carriers, tankers, and dry bulk vessels were all at 100%[11] - The company invested approximately $100 million in vessel efficiency upgrades since 2023[5] Balance Sheet and Capital Expenditure - The company's cash and cash equivalents at the end of the quarter were $278 million[22, 25] - The company has approximately $44 million of undrawn credit lines[23] - Remaining capital expenditures of $850 million are expected on five large container newbuildings[23]