Core Viewpoint - SFL Corporation Ltd. has agreed to sell two Suezmax tankers, SFL Thelon and SFL Ottawa, for approximately $57 million each, expecting net proceeds of about $26 million per vessel after debt repayment and termination fees, with an aggregate book gain of around $23 million from the transaction [1][2][4] Group 1: Transaction Details - The vessels are scheduled for delivery in the fourth and first quarters, respectively [2] - The company has also mutually agreed to terminate charters for two other Suezmax tankers, SFL Albany and SFL Fraser, with a termination fee in line with a pre-agreed profit share arrangement [3] - The retained vessels are eco-designed and equipped with scrubbers, initially to be employed in the spot market [3] Group 2: Management Commentary - The CEO of SFL Management AS highlighted the transaction as a demonstration of the embedded value in the fleet, realizing significant profit from the sale of 10-year-old vessels shortly after acquisition while benefiting from solid cash flows [4] - A portion of the proceeds from the sales will be reinvested into younger, more fuel-efficient vessels to capitalize on the current strong charter market [4] Group 3: Company Background - SFL has a strong track record in the maritime industry, having paid dividends quarterly since its NYSE listing in 2004, with a diverse fleet including tankers, bulkers, container vessels, car carriers, and offshore drilling rigs [5]