SFL Corporation Ltd. announced that it has agreed to build five 16,800 TEU container vessels with scheduled delivery in 2028 at an aggregate construction cost of approximately $1 billion. The vessels will have LNG dual-fuel propulsion and the latest features in fuel efficiency and cargo intake optimization. Concurrently, SFL has agreed minimum 10-year time charters to a leading liner company from delivery, adding approximately $1.2 billion to charter backlog.

There will be an option to extend the charters for another two years, and purchase options at the end of year 10 and 12, including a profit share feature.