Ocean Yield Asa News

New York-headquartered tanker shipping company International Seaways, Inc. on Tuesday announced it has signed agreements with Ocean Yield ASA (“Ocean Yield”) for the refinancing of six vessels in sale leaseback transactions.The bareboat charter-in lease agreements for the six modern scrubber-fitted very large crude carriers (VLCC) Seaways Tybee, Seaways Triton, Seaways Cape Henry, Seaways Hendricks, Seaways Liberty, and Seaways Diamond Head are for a period of 10 years with purchase obligations at expiry.The transactions are expected to fund in early November 2021 and result in financing of approximately $375 million, which will be used to replace the current $228 million Sinosure facility, with the balance intended for general corporate purposes.

Nordic American Tankers (NAT) told investors on Friday that it has lined up full financing for two new tankers on order from South Korea's Samsung Heavy Industries. The newbuilds are the first to be ordered by NAT since 2016.The shipowner said it entered into a financing agreement with a subsidiary of Ocean Yield ASA for the Suezmax pair, which are due for delivery in the first half of 2022. "It is an advantage to secure the long term financing for these two newbuildings at an early stage and with an existing lender," NAT said, adding it aims to become a debt free company.The financing is for up to 80% of the newbuilding price, and the agreements are based on a 10-year bareboat charter for each vessel.

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 be able to drawdown on an additional tranche of up to $4.5 million in aggregate for installation of exhaust gas cleaning systems (“scrubbers”) on the three vessels.As part of the agreements…

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, Ocean Yield’s fleet currently comprises about 70 vessels.Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters.

Norway-based dry bulk shipping company 2020 Bulkers has taken delivery of Bulk Shanghai, the fourth of eight 208,000 dwt Newcastlemax newbuilds.The 300-meter-long bulker, which commenced a 13-year bareboat charter with 2020 Bulkers, is owned by Norwegian shipping company Ocean Yield.Two further vessels are expected to be delivered by January 2020, and the remaining two vessels are expected to be delivered by May 2020.The vessel will on November 9, 2019, commence a 11-13 month index-linked timecharter with ST Shipping, a 100% owned subsidiary of Glencore.Starting January 1, 2020, the vessel will also earn an additional premium related…

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. The transaction is subject to final documentation.The vessel, Navigator Aurora, is a 37,300 cbm ethylene gas carrier that was built in 2016.

Norway-based shipping company Ocean Yield ASA announced that it has taken delivery of the VLCC "Nissos Santorini".The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the third in a series of four VLCCs that will be delivered to the Company in 2019, it said."Upon delivery, the vessel commenced a 15 years' bare-boat charter to Okeanis Eco Tankers Corp  with a 5 years' sub-charter to Koch Shipping Pte. Ltd," it said in a press release.Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker new-buildings. With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers.

Norway-based ship owning company Ocean Yield ASA has taken delivery of the very large crude carriers (VLCC) Nissos Despotiko.The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the second in a series of four VLCCs that will be delivered to the Company in 2019.Upon delivery, the vessel commenced a 15 years' bareboat charter to Okeanis Eco Tankers Corp (Okeanis Eco Tankers) with a 5 years' sub-charter to Koch Shipping Pte. Ltd.Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuildings.With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers.

Norway-based ship owning company Ocean Yield ASA has taken delivery of two 2017-built Ultramax dry bulk vessels.The Ultramax ships  are "SBI Libra" and "SBI Virgo", both of which were built in 2017.Upon delivery, the vessels commenced 11 years' bareboat charter to Scorpio Bulkers Inc, said a press release.Ocean Yield has further committed to part finance the installation of scrubbers on both vessels, which is expected in early 2020.Ocean Yield ASA is a ship owning company with investments in vessels on long -term charters.Scorpio Bulkers is a leading international provider of marine transportation of dry bulk commodities that currently owns and operates a fleet of 57 modern dry bulk vessels, specifically Ultramax and Kamsarmax vessels.

Norway-based ship owning company Ocean Yield ASA announced that it has taken delivery of the very large crude carrier (VLCC)  "Nissos Rhenia".The tanker was delivered from the yard Hyundai Heavy Industries in South Korea and is the first in a series of four VLCCs that will be delivered to the company in 2019.Upon delivery, the vessel commenced a 15 years' bareboat charter to Okeanis Eco Tankers Corp with a 5 years' sub-charter to Koch Shipping Pte. Ltd.Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuildings.With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers.

The international provider of marine transportation of dry bulk commodities Scorpio Bulkers has once again sold vessels with two new sale and lease back agreements.This time the sale concerns two Ultramax vessels - SBI Libra and SBI Virgo - to an unaffiliated third party.Upon completion, which is estimated to take place in the second quarter of 2019, the Company’s liquidity is expected to increase by up to $17.0 million in aggregate, comprising $14.0 million upon closing after the repayment of outstanding debt and an additional tranche of up to $3.0 million for installation of exhaust gas cleaning systems (scrubbers) on both vessels.As part of the agreements…

Bermuda-based owner of product and chemical tankers Ardmore Shipping has refinanced seven vessels under finance lease arrangements during the fourth quarter of 2018.According to a stock exchange announcement, the company has options to repurchase the vessels at various stages prior to maturity and the other terms and conditions of the financings are generally in line with Ardmore's existing debt facilities.The Ardmore Dauntless and Ardmore Defender, two 2015-built 37,000 Dwt Eco-design IMO 2 product / chemical tankers, were refinanced in a sale and leaseback transaction with Ocean Yield ASA having a lease term of 12 years.The Ardmore Explorer and Ardmore Encounter…

Norwegean ship owning company Ocean Yield ASA has announced that the Company has agreed to acquire a modern Suezmax tanker for a consideration of USD 56.0 million with 13-year bareboat charter to Okeanis Eco Tankers Corp.The purchase price includes a seller's credit of USD 7.0 million, giving a net purchase price of USD 49.0 million, said the owner of vessels within oil-service and industrial shipping areas in Norway.The vessel, "Milos", was built in 2016 by Sungdong Shipbuilding in Korea and is a sister vessel to "Poliegos", another Suezmax vessel owned by Ocean Yield. The vessel will be delivered to the Company during Q1 2019. Okeanis…

Norway-based company engaged in the investment in vessels within oil-service and industrial shipping Ocean Yield ASA has entered into a standstill agreement with Solstad Offshore for two anchor handlers built in 2013, the Far Senator and Far Statesman.Ocean Yield said in a stock exchange annoucement that it has entered into a 6 month standstill period with respect to payment of interest, instalments and charter hire."To the extent the cash in these subsidiaries exceeds NOK 300 million on a consolidated basis, the excess amount will be used for settlement of the delayed payments on a pro rata basis," it said.During the standstill period…

Ocean Yield has agreed to acquire two 2015 built 37,000 dwt IMO II chemical tankers with 12-year bareboat charters to companies owned and guaranteed by Ardmore Shipping Corporation. The aggregate purchase price is approximately USD 51 million net of pre-paid charter-hire.The ship owning company with investments in vessels on long -term charters also announced that it has today taken delivery of the newbuilding suezmax crude tanker Nordic Tellus from Samsung Heavy Industries' shipyard in South Korea.The vessels Ocean Yield acquired from Ardmore Shipping Corporation are both built by Hyundai Mipo Dockyard in South Korea and are expected to be delivered to the Company during Q4 2018.

Ardmore Shipping Corporation has announced that it has signed agreements for the refinancing of four vessels.Two of Ardmore's subsidiaries have signed agreements for a sale and leaseback of the Ardmore Dauntless and Ardmore Defender, two 2015 built 37,000 Dwt Eco-design IMO 2 products and chemical tankers, with Ocean Yield ASA (Ocean Yield). The lease agreements are for a period of 12 years and the Company has options to repurchase each vessel at various stages prior to maturity. The other terms and conditions are in line with Ardmore's existing debt facilities.Additionally, two of Ardmore's other subsidiaries have signed agreements for the sale and leaseback of the Ardmore Explorer and Ardmore Encounter, two 2014 built 50,000 Dwt Eco-design MR tankers, with a top tier Asian Financier.

Ocean Yield announced that it has agreed to acquire four 2014 built 3,800 TEU container vessels with 12-year bareboat charters to companies owned and guaranteed by CMB NV. The aggregate purchase price is approximately USD 120 million net of pre-paid charter-hire. The vessels are built in 2014 with a capacity of 3,800 TEU and are expected to be delivered to the Company during the early part of third quarter 2018. CMB will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after five years. CMB is a maritime group founded in 1895 and based in Antwerp, Belgium, with activities within dry bulk- and chemical tanker shipping, container vessels and aviation leasing.

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. The group is a major player of dry bulk, marine and port logistics, transportation of heavy and specialized cargoes, in addition to having diversified activities in marine industrial services such as submarine cable laying and marine renewable energies.

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, with the first purchase option exercisable after five years in addition to an obligation to repurchase the vessels at the end of year 10. The transaction is subject to final agreement on documentation.

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 the first purchase option exercisable after five years in addition to an obligation to repurchase the vessels at the end of year 12. LDA is a French family group engaged in maritime transportation and services and founded more than 160 years ago.

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. Okeanis Marine Holdings will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after seven years.

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). 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.

Maritime Reporter & Engineering News, published since 1939, annually prints details on the world’s “Great Ships of the Year.” Here we rank from those selected in the December 2017 edition the top 10 ships of the year, according to the editors. Builder: Shanghai Zhenhua Heavy Industries Co. Builder: Hanjin Heavy Industries & Construction Co. USS Gerald R. Ford: first-of-class aircraft carrier for the U.S. Owner: U.S. Christoph de Margerie: the world’s first icebreaking LNG carrier. Builder: Daewoo Shipbuilding & Marine Engineering Co.