Ocean Yield AS has announced that the Company has agreed to purchase a 5,500 TEU container vessel newbuilding under construction at HJ Shipbuilding, Korea. The vessel is built with a design enabling it to be converted to dual fuel operation with methanol as fuel.
Delivery of the vessel is expected in November 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.
Ocean Yield is a ship-owning company with investments in vessels on long-term charters.
The company focuses on modern assets with long-term charters to creditworthy counterparties. The company has a significant contract backlog that offers strong visibility with respect to future earnings.
In Ocean Yield, the consideration of Environmental impact is incorporated into the investment process alongside traditional financial analysis. This strategy has resulted in a young fleet of about 5.0 years average age.