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- INVESTMENT IN NEWCASTLEMAX NEWBUILDINGS WITH LONG-TERM CHARTERS
INVESTMENT IN NEWCASTLEMAX NEWBUILDINGS WITH LONG-TERM CHARTERS
06 Dec 2022 07:30 CET
Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that the
Company has agreed to acquire up to ten newcastlemax dry bulk newbuildings for a
total consideration of up to USD 576 million net of seller's credits.
Upon delivery, the vessels will commence 15-year bareboat charters to a leading
dry bulk operator with purchase obligations at the end of the charter period.
Expected delivery will be between Q1 2025 and Q2 2026.
The final transaction scope will be a minimum of five and a maximum of ten
vessels, to be determined at a later stage. Assuming a transaction scope of ten
vessels, the transaction will add around USD 950 million to the Company's EBITDA
backlog.
Company contacts:
Andreas Røde (CEO), Tel +47 24 13 42 45
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Karl Fredrik Schjøtt-Pedersen (SVP Finance & Investor Relations), Tel +47 951 32
335
Company information:
Ocean Yield AS is a ship owning company with investments in vessels on long-term
charters. The company has a significant contract backlog that offers visibility
with respect to future earnings.
More information:
Access the news on Oslo Bors NewsWeb site
Source
Ocean Yield AS
Provider
Oslo Børs Newspoint
Company Name
Ocean Yield ASA 18/23 FRN C, Oce ASA 19/PERP FRN USD FLOOR STEP C SUB, Ocean Yield ASA 19/24 FRN
ISIN
NO0010823214, NO0010861594, NO0010869720
Market
Oslo Børs