Ocean Yield Eyes More Ship Investments

Image Courtesy: Ocean Yield

Norwegian shipowner Ocean Yield unveiled that it is currently in negotiations related to further investment in modern vessels with long term charters.

The final decisions with respect to these investments is expected to be made during the next few weeks.

“The investments are still subject to board approval and agreement on documentation,” Ocean Yield said.

In early December, Ocean Yield signed a contract to purchase Nordic American Tankers’ (NAT) three Suezmax newbuildings with ten-year bareboat charters to NAT.

The 157,000 dwt tankers are under construction at South Korea’s Samsung Heavy Industries (SHI) and are scheduled for delivery in June, August and October 2018.

Lars Solbakken, Ocean Yield ASA’s Chief Executive Officer, earlier said that the transaction “fits well with our strategy to invest in modern vessels with long-term charters.”

Under the deal, Ocean Yield will pay USD 43.2 million per ship after seller’s credit. NAT will buy back the vessel at the end of the ten-year charter, but also has the option to acquire the vessels from Ocean Yield after year five and seven.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 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 1 2 3 4

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >