SFL adds $750 million to backlog through Hapag-Lloyd extensions

SFL ($SFL) agreed seven-year charter extensions with Hapag-Lloyd ($HLAG) for six container vessels, each with capacity of 15,400 TEU. The ships will now have firm-rate employment extending into 2035–2036. SFL said the agreements add approximately $750 million to its fixed-rate charter backlog, taking the total to around $4.6 billion.

The extensions increase the contracted duration of this part of the fleet rather than adding newly acquired vessels. SFL has added more than $1 billion to its backlog through transactions announced during the year. The backlog represents payments expected over multiple future years, not revenue earned immediately. The announcement does not provide a new near-term profit forecast or commit the company to a higher dividend.

Sources:

• SFL — charter extension release, GlobeNewswire via StockTitan