SFL Corporation has agreed to acquire two 33,000-dwt stainless steel chemical tankers, built in 2022/23 and equipped with LNG dual-fuel engines, for some $114m. SFL expects to take delivery of the tankers between June and August, when one will go on a fixed timecharter to Stolt Tankers and the other will enter the Stolt Tankers Joint Service pool. Both arrangements have purchase options attached.
“We are excited to build a new relationship with Stolt-Nielsen who has a market leading position in the logistics for sophisticated chemicals,” says Ole B Hjertaker, CEO of SFL Management. “The market dynamics for stainless steel chemical tankers are also very favourable now, with steady underlying growth in demand, ageing fleet and a limited orderbook. The combination of fixed-rate charter and pool earnings will therefore give us the opportunity to participate in a strong market, while also providing increased charter backlog.”
Udo Lange, CEO of Stolt-Nielsen, adds: “I’m pleased to announce our new partnership with SFL Corporation on two modern chemical tankers. As well as securing attractively priced on-the-water tonnage in a firm chemical tanker market, these modern, dual-fuel ships will lower the age profile and carbon intensity of our fleet while offering more flexibility in our core 33,000 dwt segment. This transaction also demonstrates our commitment to asset-light fleet replacement with best-in-class partners.”
