Bermudian-based SFL Corporation Ltd, one of the world's largest ship-owning companies, has agreed to build five 16,800 20-foot equivalent unit container vessels with scheduled delivery in 2028 at an aggregate construction cost of approximately $1 billion.

The company said the vessels would have liquefied natural gas dual-fuel propulsion and the latest features in fuel efficiency and cargo intake optimisation.

Concurrently, SFL has agreed minimum 10-year time charters to a leading liner company from delivery, adding approximately $1.2 billion to its charter backlog.

There will be an option to extend the charters for another two years and purchase options at the end of year ten and 12, including a profit-sharing feature.

Chief executive Ole B. Hjertaker said: "This marks another accretive milestone investment for SFL and will add five large container vessels to our fleet.

"With these vessels delivered, we will have 11 LNG dual-fuel vessels and it demonstrates our commitment to continue expanding our investment focus to assets with a lower carbon footprint while ensuring significant visibility through ten-year firm charters to an investment grade counterparty."

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Golar LNG Ltd, the Bermudian-based owner of tankers that haul liquefied natural gas, has entered into definitive agreements with Pan American Energy for a 20-year deployment of a floating liquefied natural gas vessel in Argentina.

The FLNG project will monetise Argentine gas, tapping into the vast resources from the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale gas resources.

The project is expected to start LNG exports within 2027, establishing Argentina as an LNG exporter.

The company said this strategic venture was built on a robust commercial foundation, featuring a gas sales agreement from PAE for the supply of gas and an FLNG charter agreement with Golar, which includes a base tariff and commodity exposure to LNG sales prices.

As part of the agreements, Golar will hold a ten per cent stake in Southern Energy SA, a dedicated joint venture with PAE, responsible for the purchase of domestic natural gas, operations and sale and marketing of LNG volumes from Argentina.

Golar’s chief executive, Karl Fredrik Staubo, said: “We are excited to enter a partnership with Pan American Energy, one of the leading energy companies in Latin America.

“The project will provide an international outlet for Argentina’s vast and attractive natural gas reserves, creating value to Argentina and its gas stakeholders. The project expands Golar’s global footprint, with further growth potential.”

The agreements are subject to the sign-off of customary conditions.

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Five directors have been re-elected at the annual general meeting of Hafnia Ltd, the Bermudian-based tanker company.

Re-elected were Andreas Sohmen-Pao, Erik Bartnes, Peter Read, John Ridgway, and Su Yin Anand.

Mr Sohmen-Pao was reappointed to the office of chairman of the company.

Hafnia, which has been registered in Bermuda since 2014, is one of the world's leading tanker owners, transporting oil, oil products and chemicals for major national and international oil companies, chemical companies, as well as trading and utility companies.

The company has offices in Singapore, Copenhagen, Houston, and Dubai and employs more than 4,000 people onshore and at sea.