Up to date: Apr 24, 2024 02:03 PM
Ole B Hjertaker, CEO of SFL Administration AS (File {photograph})
Bermudian-based SFL Company Ltd, one of many world’s largest ship-owning corporations, has agreed to accumulate two liquefied pure fuel dual-fuel 33,000 useless weight ton chemical carriers for an mixture buy worth of roughly $114 million.
The corporate mentioned the vessels have been in-built 2022/2023 and fitted with stainless-steel cargo tanks.
SFL mentioned it has organized long-term employment for the vessels with associates of Stolt Tankers, a subsidiary of the chemical logistics firm Stolt-Nielsen Ltd.
The corporate expects to take supply of the vessels between June and August this 12 months and each vessels might be employed for at least eight years.
One might be on a fixed-rate time-charter and the opposite might be employed in a pool with similar-sized vessels.
The fixed-rate vessel has extension choices of as much as three years, along with buy choices after years 5 and eight, topic to a revenue share mechanism with SFL.
Ole B Hjertaker, CEO of SFL Administration AS, mentioned: “The announcement marks one other accretive funding for the corporate and can add two subtle chemical carriers to our fleet.
“With these vessels, we may have six LNG dual-fuel vessels in our fleet, and the transaction demonstrates our capability to increase our portfolio of maritime property with vessels appropriate for long-term charters to trade main corporations.”
He added: “We’re excited to construct a brand new relationship with Stolt-Nielsen who has a market main place within the logistics for stylish chemical substances.
“The market dynamics for stainless-steel chemical tankers are additionally very beneficial now, with regular underlying development in demand, ageing fleet and a restricted order e book.
“The mix of fixed-rate constitution and pool earnings will subsequently give us the chance to take part in a powerful market, whereas additionally offering elevated constitution backlog.”