SFL – Newbuild order for two additional LNG-fuelled car carriers against long term charters

Hamilton, Bermuda - August 18, 2021

SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that it has entered into long term charters with a leading Asia-based transportation company for two ultra-modern dual-fuel car carriers, designed to use liquified natural gas (LNG).

The vessels are sister vessels of the two 7,000 CEU Pure Car and Truck Carriers under construction, chartered to the Volkswagen Group, and scheduled delivery from the shipyard is in Q1-Q2 of 2024.

The aggregate construction cost will be approximately $155 million, and the charter period will be ten years from delivery of the vessels, adding more than $200 million to our contracted charter backlog.

Ole B. Hjertaker, CEO of SFL Management AS, said in a comment: "This transaction shows our commitment to continue expanding our investment focus to assets with a lower carbon footprint whilst ensuring significant visibility through ten-year firm charters to a very strong counterparty.

Over the last few months, we have added multiple new vessels to our portfolio, increasing our charter backlog by more than $700 million. Many of these acquisitions will deliver during the third quarter, adding immediate cash flow and building our long-term distribution capacity."

About SFL
SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company’s fleet of vessels is split between container vessels, bulkers, tankers and offshore drilling rigs.

SFL’s long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company's website: www.sflcorp.com

SFL Corporation Ltd. press release