SFL expands newbuilding portfolio with container vessels and ammonia carrier
SFL Corporation has agreed to acquire three newbuilding vessels, comprising two 8,800 TEU containerships and one 93,000 cbm dual-fuel Very Large Ammonia Carrier (VLAC), as part of an expansion of its long-term chartered fleet.
The aggregate acquisition cost is approximately US$365 million, with the two container vessels scheduled for delivery in 2027 and the ammonia carrier expected to follow in 2028. SFL has secured time charter agreements for all three vessels, adding a minimum of approximately US$333 million to its fixed-rate charter backlog.
The two containerships will enter service under time charters with a leading liner company for a minimum period of eight years from delivery. The agreements include extension options of up to four additional years, together with purchase options at the end of years eight, ten and twelve.
The purchase arrangements also include a profit-sharing feature, although SFL has not disclosed the identity of the liner operator or the individual charter rates.
Long-term employment secured for ammonia carrier
The 93,000 cbm dual-fuel VLAC has been contracted to a major international commodities company under a time charter agreement with a minimum duration of five years from delivery.
The charter may be extended for up to two additional years. The agreement also provides the charterer with an option to develop a sale of the vessel during the final two years of the fixed charter period, subject to a profit-sharing mechanism with SFL.
The company has not identified the VLAC’s charterer or disclosed the vessel’s intended trading routes.
According to SFL, the three charter agreements will contribute at least US$333 million to its fixed-rate charter backlog, with the potential for additional contracted revenue if extension options are exercised.
Ole B. Hjertaker, Chief Executive Officer of SFL Management AS, said the agreements continued the company’s strategy of expanding its asset portfolio through newbuildings supported by long-term employment.
He added that acquisitions and new charters announced during 2026 have increased SFL’s fixed-rate charter backlog by more than US$1.6 billion.
The latest agreements extend SFL’s investment activity across container shipping and gas carrier segments, with vessel deliveries and the commencement of their respective charters scheduled over the next two years.
