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. The transaction is subject to final documentation.The vessel, Navigator Aurora, is a 37,300 cbm ethylene gas carrier that was built in 2016.
Ocean Yield Buys a Suezmax Tanker
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…
Ocean Yield Adds Tankers to its Fleet
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.
Ocean Yield Invests in Four 3,800 TEU Container Vessels
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.
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, 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.
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 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 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. 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 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. NAT is a crude tanker company listed on the New York Stock Exchange with a fleet of 33 Suezmax tankers, including these three newbuildings.
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. The vessels are being acquired for USD 49.5 million each, which is equal to the original yard cost and is about 20% below current market value.
Navig8, Ocean Yield in Chemical Tanker Deal
Norway’s Ocean Yield has bought eight chemical tanker newbuildings for $306.8m from Navig8 Chemical Tankers Inc, which will lease the vessels back on 15-year "hell and high" bareboat charters. Navig8 Chemical Tankers has options to buy the vessels during the charter period, with the first option exercisable after five years. The Oslo-listed ship-owner Ocean Yield will provide Navig8 Chemical Tankers with a pre-delivery loan matching the remaining yard installments for the STX vessels. The Norwegian company said the transaction will be funded by bank financing for 69% of the price, a seller’s credit for 10% and the rest with existing cash and other debt.
