SFL Corp Ltd. Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>SFL Corp Ltd. has submitted its 2023 annual report on Form 20-F, detailing financial performance and operations.</b>

AI Summary

SFL Corp Ltd. (SFL) filed a Foreign Annual Report (20-F) with the SEC on March 14, 2024. SFL Corp Ltd. filed its 20-F annual report on March 14, 2024, for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's standard industrial classification is DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]. SFL Corp Ltd. was formerly known as Ship Finance International LTD, with a name change on May 11, 2004. The filing includes financial data for the years 2023, 2022, and 2021, with comparisons to prior periods.

Why It Matters

For investors and stakeholders tracking SFL Corp Ltd., this filing contains several important signals. This 20-F filing provides a comprehensive overview of SFL Corp Ltd.'s financial position and operational activities for the fiscal year 2023, crucial for investors to assess the company's performance and outlook. As a deep-sea foreign transportation company, the details within this report are vital for understanding its market standing, fleet operations, and any associated risks or strategic shifts.

Risk Assessment

Risk Level: low — SFL Corp Ltd. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand SFL Corp Ltd.'s performance and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report.)
• 2024-03-14 — Filing Date (Date the 20-F was filed.)
• 4412 — SIC Code (Standard Industrial Classification for the company.)
• 001-32199 — SEC File Number (SEC file number associated with the company.)

Key Players & Entities

• SFL Corp Ltd. (company) — Filer of the 20-F report.
• Ship Finance International LTD (company) — Former name of SFL Corp Ltd.
• 20-F (regulator) — Form type filed by SFL Corp Ltd.

FAQ

Industry Context

SFL Corp Ltd. operates in the deep-sea foreign transportation of freight industry, a sector characterized by global trade dynamics and maritime logistics.

Regulatory Implications

As a foreign registrant, SFL Corp Ltd. files its annual report on Form 20-F, which is a substitute for the annual report on Form 10-K for U.S. issuers.

What Investors Should Do

1. Review the full 20-F filing for detailed financial statements and management discussion.
2. Analyze the company's operational segments and fleet information provided in the report.
3. Assess any disclosed risk factors relevant to the deep-sea transportation industry.

Key Dates

• 2024-03-14: Filing Date — Submission of the annual 20-F report for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period covered by the 20-F.
• 2004-05-11: Name Change — Date SFL Corp Ltd. changed its name from Ship Finance International LTD.

Year-Over-Year Comparison

This filing represents the annual report for fiscal year 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.01 — nge on which registered Common Shares, $0.01 Par Value SFL New York Stock Exchange

Filing Documents

• sfl-20231231.htm (20-F) — 3660KB
• sflfy2023form_ex8x1signifi.htm (EX-8.1) — 154KB
• sflfy2023_ex11x1policytode.htm (EX-11.1) — 36KB
• sflfy2023_ex11x2insidertra.htm (EX-11.2) — 90KB
• sflfy2023form_ex12x1ceocer.htm (EX-12.1) — 10KB
• sflfy2023form_ex12x2cfocer.htm (EX-12.2) — 8KB
• sflfy2023form_ex13x1ceocer.htm (EX-13.1) — 5KB
• sflfy2023form_ex13x2cfocer.htm (EX-13.2) — 5KB
• sflfy2023form_ex15x1audito.htm (EX-15.1) — 3KB
• sflfy2023form_ex15x2audito.htm (EX-15.2) — 3KB
• sflfy2023_ex97x1clawbackpo.htm (EX-97.1) — 69KB
• image_0.jpg (GRAPHIC) — 3KB
• image_01.jpg (GRAPHIC) — 3KB
• image_1.jpg (GRAPHIC) — 0KB
• 0001289877-24-000009.txt (&nbsp;) — 17968KB
• sfl-20231231.xsd (EX-101.SCH) — 164KB
• sfl-20231231_cal.xml (EX-101.CAL) — 136KB
• sfl-20231231_def.xml (EX-101.DEF) — 762KB
• sfl-20231231_lab.xml (EX-101.LAB) — 1231KB
• sfl-20231231_pre.xml (EX-101.PRE) — 1042KB
• sfl-20231231_htm.xml (XML) — 2328KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [ ] Yes [ ] No INDEX TO REPORT ON FORM 20-F PART I PAGE ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 ITEM 4. INFORMATION ON THE COMPANY 35 ITEM 4A. UNRESOLVED STAFF COMMENTS 60 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 61 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 99 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 105 ITEM 8. FINANCIAL INFORMATION 108 ITEM 9. THE OFFER AND LISTING 109 ITEM 10. ADDITIONAL INFORMATION 109 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 121 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 122 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 123 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 123 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 123 ITEM 16 [RESERVED] 124 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 124 ITEM 16B. CODE OF ETHICS 124 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 124 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 125 ITEM 16E. PURCHASE OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 125 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 126 ITEM 16G. CORPORATE GOVERNANCE 126 ITEM 16H. MINE SAFETY DISCLOSURE 127 ITEM 16J INSIDER TRADING POLI CIES 127 ITEM 16K CYBERSECURITY 127 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 129 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 129 ITEM 19. EXHIBITS 130 i CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this annual report and the documents incorporated by reference may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, underlying assumptions and other statements, which are other than statements of historical facts. SFL Corporation Ltd. and its subsidiaries, or the Company, desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement pursuant to this safe harbor legislation. This report and any other written or oral statements made by the Company or on its behalf may include forward-looking statements, which reflect the Company's current views with respect to future events and financial performance and are not intended to give any assurance as to future results. When used in this document, the words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "targets," "likely," "would," "could" "seeks," "continue," "possible," "might," "pending" and similar expressions, terms or phrases may identify forward-looking statements. The forward-looking statements herein are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Throughout this report, the "Company", "SFL ", "we", "us" and "our" all refer to SFL Corporation Ltd. and its subsidiaries. We use the term deadweight ton, or dwt, in describing the size of the vessels. Dwt, expressed in metric tons, each of which is equivalent to 1,000 kilograms, refers to the maximum weight of cargo and supplies that a vessel can carry. We use the term twenty-foot equivalent units, or TEU, in describing container vessels to refer to the number of standard twenty-foot containers that the vessel can carry, and we use the term car equivalent units, or CEU, in describing car carriers to refer to the number of standard cars that the vessel can carry. Unless otherwise indicated, all references to "USD," "US

View Full Filing

View this 20-F filing on SEC EDGAR