12:23 PM EDT, 07/03/2024 (MT Newswires) -- SFL (SFL) said Wednesday it has agreed to build five 16,800 twenty-foot equivalent unit container vessels for a total of $1 billion, scheduled for delivery in 2028.

SFL also agreed to at least 10-year time charters to an unnamed liner company starting from delivery, boosting its backlog by $1.2 billion. These charters include options for a two-year extension, purchase options at years 10 and 12, and a profit-sharing arrangement, the company said in a filing with the US Securities and Exchange Commission.

The vessels will use liquefied natural gas dual-fuel propulsion and feature advanced fuel efficiency and cargo intake optimization, the company said.

Price: 14.06, Change: +0.21, Percent Change: +1.48