SFL Corporation Ltd. has locked in a seven-year charter extension with Hapag-Lloyd AG covering six 15,400 TEU container vessels, a deal that adds approximately $750 million to the company's fixed-rate charter backlog and pushes its overall backlog to roughly $4.6 billion. The vessels will stay under firm rates with charter coverage running through 2035-36, deepening SFL's ties with Hapag-Lloyd, ranked as the fifth-largest container shipping line globally. The extension builds on momentum in 2026, during which SFL had already added over $1 billion to its charter backlog through long-term arrangements. SFL's recent second quarter results showed topline rising from $174.5 million in the first quarter to $201 million, with adjusted EBITDA of $130 million, net income of $34 million, and earnings per share of $0.25; the board declared a $0.22 per share dividend, the company's 90th consecutive quarterly payout. The added backlog increases SFL's exposure to a single counterparty, and the company also faces cyclicality in container markets tied to freight rates, vessel oversupply, and global trade volumes.
Hapag Lloyd AGHapag-Lloyd extends charters for six 15,400 TEU vessels, securing capacity but the deal is framed around SFL's backlog rather than Hapag-Lloyd's own demand.
SFL Corporation Ltd
