The Oak Report

Acquisition of Newcastlemax Dry Bulk Vessel

Ocean Yield agreed to acquire one 206,000 dwt newcastlemax dry bulk newbuilding for a total of USD 40 million

Ocean Yield ASA is pleased to announce that the company has agreed to acquire one 206,000 dwt newcastlemax dry bulk newbuilding for a total consideration of USD 40 million net of a seller's credit, with 15-year bareboat charter to CMB NV ("CMB").

The vessel is expected to be delivered from the shipyard in the first quarter of 2020, and will be bareboat chartered back to CMB for 15 years. CMB will have certain options to either sell or acquire the vessel during the charter period.


“We are delighted to expand our relationship with CMB with the acquisition of one newcastlemax dry bulk vessel, bringing our fleet up to a total of 61 vessels. Ocean Yield now has one dry bulk vessel and four container feeder vessels on long-term charter to CMB.” Lars Solbakken

Expanding their relationship with Compagnie Maritime Belge (CMB) with the acquisition of one newcastlemax dry bulk vessel with 15-year bareboat charter. Which will bring their fleet up to a total of 61 vessels.

Investor Relations contact:

Marius Magelie (SVP Finance & IR), 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.