CIMC Raffles to Build 7,000 CEU PCTC Vessel for SFL Corp

US shipping company SFL Corp has reportedly commissioned CIMC Raffles shipyard to build a Pure Car and Truck Carrier (PCTC) vessel. The vessel will have a capacity of 7,000 CEU and dual-fuel propulsion.

According to i marine news, the delivery of this vessel is scheduled for 2028 and would become the fifth contract secured by the aforementioned Chinese builder during the current year.

Furthermore, it was reported that "SFL Corp is actively involved in the container shipping, tanker, dry bulk, and offshore energy transportation sectors. In July 2024, the shipowner placed an order worth approximately $1 billion with New Times Shipbuilding for the acquisition of five 16,800 TEU LNG dual-fuel container ships, with deliveries expected to commence in 2028."

"Following a significant increase in PCTC orders during the three years between 2022 and 2024 — a period in which the orderbook-to-existing fleet capacity ratio reached a peak of around 40% — shipowners largely refrained from placing new PCTC orders in 2025," the publication added.

Finally, it was detailed that "driven by factors such as the boom in Chinese car exports, strengthening time charter rates, and increasing second-hand vessel values, shipowners' interest in new vessel construction has gradually recovered, and signs of a more dynamic market have emerged in recent months."