SFL to charter LNG-powered car carrier duo

SFL Corporation, controlled by billionaire John Fredriksen, said it would charter two newbuild LNG-powered car carriers to a major European-based automobile manufacturer.

The 10-year deal worth more than $200 million would start from delivery of the dual-fuel 7,000 CEU car carriers planned for 2023, according to Bermuda-based SFL.

Concurrently, SFL has agreed to order the two newbuild vessels at a leading shipyard in China, subject to final documentation, it said without providing additional information.

The customer will charter our two existing car carriers SFL Composer and SFL Conductor until the delivery of the new ships.

In addition, the duo plan to cooperate to use bio-fuel for the propulsion of the two existing vessels, SFL said.

Over the last 10 years, SFL’s fleet has transitioned from predominately oil production and transportation assets, to mainly consisting of containerships and dry bulk vessels today.

Including this new transaction, the company’s fixed-rate charter backlog from shipping assets will reach more than $2.4 billion, the firm said.

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