Investment in vessel with long-term charter

04 Nov 2022

Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that the Company has agreed to purchase a 5,500 TEU newbuilding container vessel under construction at HJ Shipbuilding, Korea. The vessel will be a sister vessel to the two newbuildings announced on 10 June 2022 and 18 July 2022, with a design enabling it to be converted to dual fuel operation with methanol as fuel.

Delivery of the vessel is expected in Q3 2023. Upon delivery, the vessel will commence a seven-year timecharter contract to ZIM Integrated Shipping Services Ltd. which will add approximately USD 80 million to the Company's EBITDA backlog.