Shipowner SFL Corporation reported total US GAAP operating revenues of approximately $201 million for the second quarter ended June 30.
Net income for the period reached $34 million, or $0.25 per share, supported by strong contributions from two Suezmax tankers operating in the spot market.
Contracted fixed-rate charter backlog across the fleet stood at approximately $3.8 billion as of June 30, with a weighted remaining charter term of 6.2 years.
In May, two 6,500 CEU car carriers, SFL Conductor and SFL Composer, were secured on three-year time charters to an Asian liner company, adding around $83 million to the firm backlog.
The company also ordered four 7,000 CEU LNG dual-fuel car carrier newbuilds scheduled for delivery in 2029 for a total investment of approximately $363 million.
Two of these vessels were fixed on five-year time charters to an Asian car manufacturer, increasing total firm backlog by approximately $150 million.
Total available liquidity stood at approximately $273 million at quarter end, comprising $113 million in cash and cash equivalents alongside $160 million in undrawn credit lines.
Capital expenditure commitments for nine newbuildings under construction total approximately $1.2 billion, which SFL expects to finance primarily through pre- and post-delivery credit facilities.