The New York-listed SFL Corporation Ltd. (SFL) agreed to build two very large ammonia carriers paired with long-term time charters.
The transaction involves an oil major and schedules delivery of the 93,000 cbm vessels starting in the second quarter of 2028.
The shipping company stated that the aggregate yard construction cost is expected to be approximately $216m.
The vessels, which will be able to carry a wide range of petrochemical gases, will feature dual-fuel propulsion and the latest technology for fuel efficiency and cargo intake optimization.
The long-term time charters add a minimum of approximately $162m to the company’s fixed rate charter backlog.
The duration of the initial charter period will be determined within the next six months, SFL said, and the backlog may increase at that point.
The charterer will also have options to extend the time charters by up to four years.
“The gas carrier project marks another accretive milestone investment for SFL, adding assets in a new segment,” said Ole B. Hjertaker, chief executive officer 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. 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.”
