REG-SFL - Newbuild order for two Very Large Ammonia Carriers in combination with long term time charters
Key Highlights
- ➤SFL orders two 93,000 cbm Very Large Ammonia Carriers for approximately $216 million
- ➤Long-term oil-major charters add minimum $162 million to fixed-rate charter backlog
- ➤Vessel deliveries are scheduled from the second quarter of 2028
- ➤SFL has added more than $1.3 billion to 2026 fixed-rate charter backlog
- ➤Charterer can extend the time charters by up to four years
Expert Statements
Ole B. Hjertaker, CEO of SFL Management AS
“The gas carrier project marks another accretive milestone investment for SFL, adding assets in a new segment.”
Ole B. Hjertaker, CEO of SFL Management AS
“The charterer is a European based investment grade oil major, underlining SFL's standing as a high-quality provider of maritime logistics assets.”
Ole B. Hjertaker, CEO of SFL Management AS
“Including acquisitions and charter extensions announced so far this year, we have added more than $1.3 billion to our fixed rate charter backlog in 2026.”
SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) today announced that it has agreed to build two 93,000 cbm Very Large Ammonia Carriers. The vessels will be able to carry a wide range of petrochemical gases, and will have dual-fuel propulsion and the latest technology for fuel efficiency and cargo intake optimization. Delivery is scheduled from the second quarter of 2028 and the aggregate yard construction cost is expected to be approximately $216 million.
Concurrently, the Company has agreed long term time charters to an oil major, adding a minimum of approximately $162 million to its fixed rate charter backlog. The duration of the initial charter period will be determined within the next six months, and the backlog may increase at that point. The charterer will also have options to extend the time charters by up to 4 years.
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