The deal expands SFL's asset base into a new segment (ammonia carriers) with a high-credit counterparty, adding visible cash flows. Monitor the initial charter period duration determination within the next six months and any further backlog increases.
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Executive Summary
SFL Corp Ltd. announced an agreement to build two 93,000 cbm Very Large Ammonia Carriers for an aggregate yard construction cost of approximately $216 million, with delivery scheduled from Q2 2028. Concurrently, the company secured long-term time charters with a European-based investment-grade oil major, adding a minimum of approximately $162 million to its fixed-rate charter backlog. This marks an accretive investment into a new segment and adds more than $1.3 billion in total backlog additions in 2026.
Key Facts
- Order for two 93,000 cbm Very Large Ammonia Carriers at ~$216 million aggregate yard construction cost.
- Delivery scheduled from Q2 2028.
- Long-term time charters with an investment-grade oil major add a minimum of ~$162 million to fixed-rate charter backlog.
- Charterer has options to extend time charters by up to 4 years.
- Including this deal, SFL has added more than $1.3 billion to its fixed-rate charter backlog in 2026.
Financial Impact
~$216 million in newbuild investment; ~$162 million in new charter backlog additions.
Risk Factors
- Delivery from Q2 2026 — delivery delays or cost overruns could impact timing.
- relatedTickers: []
- timeHorizon:
- drugNames: []
- crossFilingNarrative: null
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001289877-26-000032 |
| Document: 0001289877-26-000032-index-headers.html | 0001289877-26-000032 |
| Document: 0001289877-26-000032-index.html | 0001289877-26-000032 |
| Document: 0001289877-26-000032.txt | 0001289877-26-000032 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | 6-K | $13.05 | awaiting T+20 | — | $12.77 (−2.15%) |
Oct 7, 2026 19d ago | 6-K | $13.28 | awaiting T+20 | — | $12.77 (−3.84%) |
Oct 5, 2026 21d ago | 6-K | $13.50 | awaiting T+20 | — | $12.77 (−5.41%) |
Oct 5, 2026 21d ago | Press Release | $13.50 | awaiting T+20 | — | $12.77 (−5.41%) |
Sep 29, 2026 27d ago | Press Release | $13.06 | awaiting T+20 | — | $12.77 (−2.22%) |
Sep 11, 2026 6w ago | 6-K | $13.18 $13.34 | ▲ +1.21% | ▼ −0.65% | $12.77 (−3.11%) |
Aug 26, 2026 8w ago | Press Release | $12.03 | awaiting T+20 | — | $12.77 (+6.15%) |
Aug 26, 2026 8w ago | 6-K | $12.03 $12.98 | ▲ +7.90% | ▲ +7.67% | $12.77 (+6.15%) |
Aug 26, 2026 8w ago | Press Release | $12.03 $12.98 | ▲ +7.90% | ▲ +7.67% | $12.77 (+6.15%) |
Aug 14, 2026 10w ago | Press Release | $12.35 | awaiting T+20 | — | $12.77 (+3.40%) |
US Market Status
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