Update on investment in newcastlemax newbuildings with long-term charters

26 May 2023

Reference is made to the stock exchange release dated December 6, 2022, where Ocean Yield AS (“Ocean Yield”) announced an agreement to acquire a minimum of five and a maximum of ten vessels with expected delivery dates between Q1 2025 and Q2 2026.

Ocean Yield has now agreed with the charterer that the final transaction scope will be eight or nine vessels, with expected delivery dates between Q3 2024 and Q4 2025.

Upon delivery, the vessels will commence 15 year bareboat charters to guaranteed subsidiaries of CMB N.V.