SFL Corporation Ltd. announced that it has agreed new 5-year time charters on four 8,700 TEU container vessels, which will add approximately $240 million to the Company?s fixed rate charter backlog. The vessels have been on charter to A.P. Moller - Maersk since they were new and the current charters were due to expire in 2025. The vessels were built in 2014-2015 with a modern, wide-beam design and fuel-efficient electronic engines.

In connection with the new charters, SFL will make certain investments in the vessels, including increasing the cargo capacity to 9,500 TEU. The Company will also add new energy efficiency features, and the total upgrade investment is estimated to be approximately $20 million in aggregate.