Maritime Firm Owns Vessels Managed by Sanctioned Subsidiary of Chinese Conglomerate

The chemical tanker Maria Victoria V (Photo: SFL Corporation)

Subsidiaries of the publicly traded maritime firm SFL Corporation own vessels managed by a company sanctioned last week for its role in acquiring Iranian petrochemicals.

The vessels, chemical tankers Maria Victoria V and SC Guangzhou, are owned by SFL Corporation’s wholly owned subsidiaries, SFL Chemical Tanker Ltd. and SFL Chemical Tanker II Ltd., respectively. Both vessels are active in Southeast and East Asia, visiting ports in China, Thailand, Singapore, Malaysia, South Korea and Taiwan in the last six months, according to maritime location data.

SFL Corporation, which trades its shares on the New York Stock Exchange, is a Bermuda-based ship charterer that controls more than 80 vessels, according to its website. The company declared its 64th consecutive quarterly dividend when reporting earnings for the fourth quarter of 2019 last month, saying it had a net quarterly income of USD 24 million.

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