Acquisition of two suezmax newbuildings with long-term charters

16 Oct 2020
Ocean Yield ASA has agreed to acquire two suezmax newbuilding tankers with 10-year bareboat charters to Nordic American Tankers Ltd (“NAT”). The net purchase price will be up to USD 44 million per vessel after seller's credits of minimum 20%.The vessels are scheduled for delivery by the yard, Samsung Heavy Industries, South Korea, during the first half of 2022. NAT will have certain options to acquire or to sell the vessels during the charter period.NAT is a crude tanker company listed on the New York Stock Exchange with a fleet of 25 Suezmax tankers, including these two newbuildings.Company contact:Eirik Eide (CFO), Tel +47 24 13 01 91Investor Relations contact:Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82Company information: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.