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Tuesday, October 27, 2020

Ocean Yield Asa News

Image: Scorpio Bulkers Inc.

Scorpio Bulkers to Sell, Leaseback 3 Bulkers

The provider of marine transportation of dry bulk commodities Scorpio Bulkers has agreed to sell and leaseback two Ultramax vessels (SBI Cronos and SBI Achilles) and one Kamsarmax vessel (SBI Lynx) to Ocean Yield ASA for a total financing consideration of $62.8 million.Upon completion, which is estimated to take place in the first quarter of 2020, the company’s liquidity is expected to increase by up to $33.6 million after the repayment of outstanding debt.The company will also…

Image:  Ocean Yield ASA

Ocean Yield Adds LR2 Tanker Trio

Norwegian ship owner and operator Ocean Yield ASA has taken delivery of three long range 2 (LR2) product tankers built in China.The three LR2 product tankers are Navig8 Pride (2018-built), Navig8 Providence (2018-built) and Navig8 Prestige (2019-built). The vessels were acquired from a major Chinese leasing company with about 9 year’s remaining bareboat charters to Navig8 Topco Holdings Inc.The fourth vessel, the “Navig8 Precision” is expected to be delivered next week. All four vessels are fitted with scrubbers and built in 2018 and 2019.Following the latest acquisition…

Image: Ocean Yield ASA

Ocean Yield Buys Ethylene Gas Carrier

Norwegian shipowner Ocean Yield ASA has agreed to acquire Navigator Aurora, a 37,300 cbm ethylene gas carrier owned by Navigator Gas.According to agreement, the ship will be purchased for a total consideration of USD 69.75 million net of a seller’s credit, with a 13-year bareboat charter to a company 100% owned and guaranteed by Navigator Holdings - Navigator Gas.The vessel is expected to be delivered to the Company during October 2019. Navigator Gas has certain options to acquire the vessel during the charter period.

Image: Ocean Yield

Ocean Yield Takes Delivery of Two Vessels

Norwegian shipowner Ocean Yield ASA took delivery of newly-built handysize dry bulk vessel "La Fresnais" and "Interlink Amenity". In press release, Ocean Yield said that it took the delivery of the 2018 built handysize dry bulk vessel "La Fresnais" on April 10. Upon delivery the vessel commenced a 12 years' bareboat charter to a company owned and guaranteed by Louis Dreyfus Armateurs Group (LDA). LDA is a French family group engaged in maritime transportation and services and founded more than 160 years ago.

Image: Ocean Yield ASA

Ocean Yield to Acquire Five Handysize Dry Bulkers

Ocean Yield ASA announced that the Company has agreed to acquire five modern handysize dry bulk vessels with 10 -year bareboat charters to companies owned and guaranteed by Interlink Maritime Corp. The purchase price is approximately USD 75 million net of pre-paid charter hire. One vessel will be delivered from the shipyard in April 2018, while three of the vessels are built in 2015 and one in 2014. Interlink Maritime will have certain options to acquire the vessels during the charter period…

Photo: Ocean Yield Official Linkedin Page

Ocean Yield Acquires Two Handysize Dry Bulkers

Norwegian shipowner  Ocean Yield announced that 100% owned subsidiaries of the Company has agreed to acquire two 2018 built handysize dry bulk vessels with 12-year bareboat charters to companies owned and guaranteed by Louis Dreyfus Armateurs Group (LDA). The net cash purchase price is USD 18 million per vessel after a seller's credit. Both vessels are expected to be delivered to the Company during March 2018. LDA has options to acquire the vessels during the charter period, with…

Image: Ocean Yield ASA

Ocean Yield Acquires Four VLCC

Ocean Yield has announced that 100% owned subsidiaries of the Company have agreed to acquire four VLCC crude tankers with 15-year bareboat charters to companies owned and guaranteed by Okeanis Marine Holdings. All four vessels are sub-chartered to the shipping arm of a large industrial conglomerate for a period of 5 years. The gross purchase price is USD 83.75 million per vessel and the net cash purchase price is USD 74.25 million after a seller's credit of USD 9.50 million. The vessels are scheduled for delivery by the yard, Hyundai Heavy Industries, South Korea, in Q2-Q3 2019.

Photo:  Ocean Yield ASA

Ocean Yield to Invest in Modern Vessels

Ocean Yield ASA is currently in negotiations regarding further investments in modern vessels with long term charters, said the company. In a press release, Ocean Yield  said that the investments are still subject to board approval and agreement on documentation. Ocean Yield expects that final decisions with respect to these investments will be made during the next few weeks. Recently, the company announced  that it has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited (NAT).

Photo: Nordic American Tankers

Ocean Yield Invests in 3 NAT Suezmaxes Newbuilds

Ocean Yield ASA has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited (NAT). The net purchase price is USD 43.2 million per vessel after seller's credit. The net purchase price constitutes 77.5% of the gross purchase price, which is equal to the yard contract price. The vessels are scheduled for delivery by the yard, Samsung Heavy Industries, South Korea, in June, August and October 2018. NAT will have options to acquire the vessels after year 5 and 7 in addition to an obligation to repurchase the vessels at the end of year 10.

Photo:  Nordic American Tankers

NAT Gets Finance for 3 Vessels

Nordic American Tankers (NAT) has entered into final agreements with a subsidiary of Ocean Yield ASA for the financing of the outstanding commitments of $39 million per ship, due on delivery. Three NAT newbuildings are under construction at Samsung shipyard in South Korea. 30% of the contract price for each vessel ($55.7 m) was paid cash by NAT to the yard when the vessels were ordered in October 2016. The three Suezmax newbuildings are expected to be delivered during the latter part of 2018. The financed amount by Ocean Yield is about $43 million per vessel.

Photo Navig8

Navig8 Acquires Chemical Tanker from STX

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Topaz, a 49,000 DWT IMO2 Interline-coated chemical tanker, from STX Offshore & Shipbuilding Co., Ltd. (“STX”). The Navig8 Topaz is the second STX vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA (“Ocean Yield”) announced on April 1, 2015.

Photo Courtesy Navig8

Navig8 Acquires LR2 Tanker from Sungdong

Navig8 Product Tankers Inc. an international shipping company focused on the transportation of petroleum products, today announced that it has taken delivery of the Navig8 Sanctity, a 110,000 DWT LR2 tanker, from Sungdong Shipbuilding & Marine Engineering Co., Ltd. (“Sungdong”). The Navig8 Sanctity is the second vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA (“Ocean Yield”) announced on July 13, 2015. Following delivery from Sungdong…

Photo: Höegh Autoliners

Ocean Yield and Höegh Autoliners Charter Pact

Ocean Yield ASA has agreed to certain amendments to the charter agreements with Höegh Autoliners (Höegh) for four PCTC vessels on long term charter. Ocean Yield currently has two newbuilding PCTC vessels of 8,500 CEU capacity under construction at Xiamen Shipbuilding Industry Co. Ltd. The vessels are part of a series of six vessels, where Höegh has ordered four newbuildings and Ocean Yield two. Upon delivery, the vessels will be chartered out to Höegh on 12-year bareboat charters.

Pic: Navig8 Product Tankers

Ocean Yield to Acquire Four LR2 Product Tankers

Norway’s Ocean Yield ASA has agreed to acquire four 115,000 dwt LR2 product tankers which are currently on order from Navig8 Product Tankers at Sungdong Shipbuilding in Korea. Ocean Yield has agreed to acquire the product tankers for a total consideration of USD 198.1 million, in combination with 13 years "hell and high water" bareboat charters to Navig8 Product Tankers Inc, says a company statement. The four vessels are being built at Sungdong Shipbuilding & Marine Engineering Co., Ltd, Korea, and are scheduled for delivery in January, March, May and July 2016.

SBM Installer being towed1

DSCV SBM Installer Sold to OS Installer

SBM Offshore has entered into an agreement to sell the DSCV SBM Installer, a Diving Support and Construction Vessel (DSCV), to OS Installer AS for US$150 million in cash. OS Installer AS is a newly established joint venture between Ocean Yield ASA (75%) and SBM Offshore (25%). Both parties have signed a memorandum of agreement, and SBM Offshore will charter the vessel under a long-term bareboat charter for a fixed period of 12 years. The Company will have certain options to acquire the vessel during the bareboat charter period, with the first option exercisable after five years.