SFL Corporation Acquires Two LNG Dual-Fuel Chemical Tankers

Strategic Partnership with Stolt Tankers Marks Expansion into Sustainable Maritime Assets

Stolt Tankers newbuildings artist impression90

SFL Corporation, under the stewardship of John Fredriksen, has bolstered its maritime assets with the acquisition of two cutting-edge LNG dual-fuel chemical tankers for a sum totaling $114 million. These vessels, boasting a deadweight tonnage of 33,000, were meticulously constructed during the years 2022 and 2023, featuring state-of-the-art stainless steel cargo tanks, ensuring optimal storage conditions for chemical cargoes.

In a strategic move, SFL Corporation has orchestrated long-term employment agreements for these vessels in collaboration with affiliates of Stolt Tankers, a renowned subsidiary of chemical logistics juggernaut Stolt-Nielsen Limited. This alliance underscores SFL’s commitment to forging mutually beneficial partnerships within the maritime industry.

Anticipated to be delivered between the months of June and August of the current year, these dual-fuel chemical tankers are slated for operational deployment spanning a minimum of eight years. Among them, one vessel is earmarked for a fixed-rate time-charter arrangement, while the other will be integrated into a pool comprising vessels of commensurate capacity.

Ole B. Hjertaker, CEO of SFL Management, emphasized the significance of this transaction, citing its instrumental role in expanding the corporation’s portfolio of maritime assets. He underscored the strategic alignment with industry-leading entities, affirming the corporation’s prowess in catering to the long-term needs of its clientele.

Echoing these sentiments, Udo Lange, Chief Executive Officer of Stolt-Nielsen, lauded the acquisition of these modern, dual-fuel vessels. He highlighted their pivotal role in enhancing the fleet’s age profile and reducing carbon intensity, while concurrently augmenting operational flexibility within the core 33,000 deadweight segment.

The acquisition of these LNG dual-fuel chemical tankers stands as a testament to SFL Corporation’s unwavering commitment to innovation, sustainability, and strategic growth within the maritime domain.

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