SFL .(US:SFL)2023-08-18 18:52Financial Performance - The company reported a net income of $16.9 million, or $0.13 per share, for the second quarter[16] - Adjusted EBITDA from consolidated subsidiaries was $100.9 million, with an additional $7.8 million from 49.9% owned associated companies[36] - Charter hire received in the quarter totaled $173.8 million, including $2.2 million of profit share[11] - Total operating revenues were $164.6 million, excluding $11.6 million of charter hire not classified as operating revenues under U S GAAP[13] Asset Transactions - The company sold and delivered the chemical tankers SFL Weser and SFL Elbe[2] - A book gain of $6.4 million was recorded from the sale of the Suezmax tanker Everbright[43, 3] - The VLCC Landbridge Wisdom is scheduled for delivery following the exercise of a purchase option, expected to result in a $10 million positive cash effect and a $2 million book gain in Q3[30] Fleet and Charters - The fixed-rate charter backlog stands at approximately $3.6 billion from owned and managed vessels[22] - The container fleet generated approximately $90.1 million in gross charter hire, with $2.2 million from profit share[26] - The dry bulk vessels generated approximately $23.6 million in gross charter hire[31] - The car carrier fleet generated approximately $6.4 million of charter hire[40] Offshore Rigs - The drilling rig Hercules completed its upgrade and mobilized to Canada for a contract with ExxonMobil[33] - A new contract was signed for Hercules with Equinor in Canada, securing employment until Q4 2024 and increasing backlog to approximately $200 million[36] Financing and Capital Expenditure - The company secured new financing arrangements totaling more than $1 billion in 2023[48] - SFL and Hapag-Lloyd agreed to invest approximately $65 million in efficiency upgrades on six 14,000 TEU vessels, with SFL's investment limited to $3 million[5] - The company has approximately $201 million of cash and cash equivalents[34]