BERMUDA —SFL Corporation Ltd has secured seven-year charter extensions for six 15,400 TEU container vessels operated under agreements with Hapag-Lloyd. The extensions provide firm-rate charter coverage for the vessels through 2035–2036, giving SFL longer-term visibility over revenue from the ships.
The agreements add approximately $750 million to SFL’s fixed-rate charter backlog, taking the company’s total backlog to approximately $4.6 billion. The increase strengthens the portion of SFL’s future earnings that is supported by contracted charter commitments rather than short-term market exposure.
The development is significant for the container shipping sector because the vessels will remain committed to a major global container carrier for an extended period. Hapag-Lloyd will retain access to the six vessels under the extended arrangements, while SFL secures contracted employment for its fleet assets over a period extending well into the next decade.
For shipowners, long-duration time charters can provide greater revenue visibility and reduce exposure to fluctuations in spot container freight and charter markets. For container operators, securing vessel capacity through longer-term arrangements can support fleet planning and operational continuity as demand and shipping capacity evolve.
The extension also reinforces the commercial relationship between SFL and Hapag-Lloyd. With the six vessels remaining under charter coverage until 2035–2036, the agreement links a substantial portion of SFL’s fleet earnings to a long-term counterparty commitment rather than near-term vessel redeployment.
For investors, the additional $750 million of backlog provides a measurable increase in contracted future revenue and contributes to SFL’s overall earnings visibility. The $4.6 billion backlog following the extensions represents the scale of future charter commitments currently secured by the company across its portfolio.
SFL Corporation is a maritime asset-owning company listed on the New York Stock Exchange, with a portfolio spanning container vessels, tankers, car carriers and other shipping assets. Hapag-Lloyd is a Germany-based global container shipping company operating an international liner network.
