Commodities
Fredriksen-backed SFL Splashes $360M on LNG Dual-Fuel PCTCs
SFL Corp, backed by John Fredriksen, has made a significant move in the shipping industry. The company has ordered four 7,000-CEU LNG dual-fuel pure car and truck carriers (PCTCs) for US$360M, with deliveries scheduled for 2029.
The newbuildings will be chartered to a major Asia-based car manufacturer on five-year time charters, with options to extend the contracts for an additional five years. This will increase SFL's total firm backlog by approximately US$150M.
The PCTC market has regained momentum in recent months due to surging Chinese vehicle exports and stronger time charter rates.