SFL Seals Long-term Charter Deal


SFL Corporation Ltd announced that it has entered into long term charters with a leading Asia-based transportation company for two ultra-modern dual-fuel car carriers, designed to use liquified natural gas (LNG), reports Yahoo Finance.

About the vessels

The vessels are sister vessels of the two 7,000 CEU Pure Car and Truck Carriers under construction, chartered to the Volkswagen Group, and scheduled delivery from the shipyard is in Q1-Q2 of 2024.

Construction cost

The aggregate construction cost will be approximately $155 million, and the charter period will be ten years from delivery of the vessels, adding more than $200 million to our contracted charter backlog.

Carbon footprint

Ole B. Hjertaker, CEO of SFL Management AS, said in a comment: “This transaction shows our commitment to continue expanding our investment focus to assets with a lower carbon footprint whilst ensuring significant visibility through ten-year firm charters to a very strong counterparty.

Over the last few months, we have added multiple new vessels to our portfolio, increasing our charter backlog by more than $700 million. Many of these acquisitions will deliver during the third quarter, adding immediate cash flow and building our long-term distribution capacity.”

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Yahoo Finance


This site uses Akismet to reduce spam. Learn how your comment data is processed.