Ocean Yield’s Third LR2 Joins Navig8 Product Tankers

Norwegian ship-owner Ocean Yield ASA has taken delivery of the LR2 product tanker Navig8 Steadfast from South Korean shipbuilder Sungdong Shipyard.

After being delivered from the shipyard today, the 110,000 dwt vessel commenced a 13 years “hell and high water” bareboat charter to Navig8 Product Tankers Inc.

This is the third vessel delivered in a series of total four product tankers that will be chartered to Navig8 Product Tankers Inc.

The previous two LR2 tankers, Navig8 Symphony and Navig8 Sanctity, were delivered to Ocean Yield in February and March of 2016, respectively.

Upon delivery, the vessels also commenced 13-year bareboat charters with Navig8.

Ocean Yield expects to take delivery of Navig8 Supreme, the fourth product tanker to be chartered out to Navig8 Product Tankers, in July 2016.

In a separate announcement the company said that, during the first quarter of 2016, its net profit dropped to USD 18.6 million from the USD 28.1 million seen in the same period a year earlier.

Ocean Yield’s EBITDA for the period was USD 58.7 million, against USD 55.2 million reached in the first quarter of 2015.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >