SFL to Acquire PCTC with Long-term Charter

 SFL Corporation Ltd. has agreed to acquire a Pure Car Truck Carrier (“PCTC”) in combination with a long term time charter to a leading car carrier operator until 2028.

The company expects to take delivery of the vessel during the fourth quarter.

 The fixed rate charter backlog will increase by approximately $65 million, with the possibility of additional upside from profit share related to fuel savings from the vessel’s scrubber.

 In addition to the PCTC transaction, SFL said it had recently taken delivery of four modern Suezmax tankers and one newbuild eco-design feeder container vessel, all on long term charters. 

The company also expects to take delivery of another newbuild eco-design feeder container vessel later in the fourth quarter. All recently announced transactions are expected to have full revenue effect from the first quarter 2023.