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.
Interlink Maritime is an owner and provider of dry bulk vessels to agricultural and industrial commodities companies, shipping companies and other end-users. It was founded in 1979 by Paul Gurtler and owns a fleet of 28 handysize vessels, including three newbuildings.
The company is majority owned by The Carlyle Group
, which is a global alternative asset manager with USD 174 billion of assets under management across 306 investment vehicles.
Ocean Yield ASA's Chief Executive Officer Lars Solbakken said
in a comment: "We are pleased to expand our presence in the dry bulk sector with five modern handysize carriers with long-term charters to Interlink Maritime. In our opinion the timing for making new investments in shipping is excellent and we remain committed to continue to increase and further diversify our portfolio of modern vessels on long term charter in order to support attractive dividends to our shareholders".