SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announces that it has sold and delivered the 2010-built suezmax tanker Everbright to an unrelated third party.

The net sale proceeds to SFL are approximately $41.1 million, and the vessel was debt free at the end of the first quarter.

A book gain of approximately $6.4 million is expected to be recorded in the second quarter as a result of the sale.

Divesting of older vessels is part of the Company’s strategy to continuously renew and diversify its fleet, and the net cash proceeds are expected to be reinvested in new assets.

About SFL

SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company’s fleet of vessels is comprised of tanker vessels, bulkers, container vessels, car carriers and offshore drilling rigs. SFL’s long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time.

SFL Corporation Ltd. press release