Ocean Yield takes delivery of its third VLCC; commences 15-years bareboat charter

Ocean Yield takes delivery of its third VLCC; commences 15-years bareboat charter

(PRESS RELEASE) LYSAKER, 5-Jul-2019 — /EuropaWire/ — Ocean Yield ASA takes delivery of the very large crude carrier (VLCC) “Nissos Santorini” today. The vessel is the third in a series of four VLCCs that will be delivered to the Company in 2019. It was delivered from the yard Hyundai Heavy Industries in South Korea.

The vessel already started a 15 years’ bareboat charter to Okeanis Eco Tankers Corp with a 5 years’ sub-charter to Koch Shipping Pte. Ltd.

In 2018 the Alafouzos family established Okeanis Eco Tankers to take over its fleet of modern tanker vessels and tanker newbuildings. With seven tankers built 2015 to 2018 and eight VLCCs waiting for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers. The company is listed on the Oslo Stock Exchange under the ticker “OET”.

About Ocean Yield ASA 

Ocean Yield ASA 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 and dividend capacity.

For more information, you may reach:

Company contact:
Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:
Marius Magelie (SVP Finance & IR), Tel +47 24 13 01 82

SOURCE: Ocean Yield ASA