Ocean Yield Completes 6 Mega Boxships Share Acquisition Deal

Image Courtesy: Ocean Yield ASA

Norwegian ship-owner Ocean Yield ASA has formally acquired 49.5 percent in six newbuilding mega boxships owned by Quantum Pacific Shipping, a part of Quantum Pacific Group.

The company’s investment in the 19,500 TEU vessels being under construction at Samsung Heavy Industries was announced on June 20.

The first two vessels, the MSC Diana and the MSC Ingy, have already been delivered from the shipyard and commenced their 15-year bareboat charters, Ocean Yield said.

The remaining containerships are currently under construction at South Korean shipyard Samsung Heavy Industries and are expected to be delivered by February 2017.

According to the company, the equity investment in the transaction will amount to a total of USD 162 million.

Ocean Yield’s equity portion of the investment will be funded by own cash and a drawing facility from Aker ASA of NOK 1,000 million with maturity in February 2018.

The company said that, following this transaction, its charter backlog stands at USD 3.3 billion as of Q2 2016.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2018 >>
MTWTFSS
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 3

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

THE 7TH EDITION OF NAVALIA, INTERNATIONAL SHIPBUILDING EXHIBITION 2018

The event wanted to be from the beginning a reference for the naval sector and to serve as a tool to attract investors and contracts for the industry…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >