Receipt of insurance proceeds
21 Jul 2020
Receipt of insurance proceedsOcean Yield ASA has received insurance proceeds of USD 26 million following the total constructive total loss of the car carrier Höegh Xiamen. After repayment of the bank debt related to the vessel, the net cash proceeds is about USD 11m.Company contact:Eirik Eide (CFO), Tel +47 24 13 01 91Investor Relations contact:Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82 Company 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.