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Tuesday, August 16, 2022

Ocean Yield Buys 5,500 TEU Newbuild

Maritime Activity Reports, Inc.

July 18, 2022

Credit: Igor Groshev/AdobeStock

Credit: Igor Groshev/AdobeStock

Ocean Yield, which describes itself as a ship-owning company with investments in vessels on long-term charters, has agreed to buy a 5,500 TEU container vessel newbuilding under construction at HJ Shipbuilding, Korea. 

The vessel design enables it to be converted to dual fuel operation with methanol as fuel. 

Delivery of the vessel is expected in May 2023. Upon delivery, the vessel will start a seven-year time charter contract to ZIM Integrated Shipping Services Ltd., which will add approximately USD 80 million to Ocean Yield's EBITDA backlog.

The vessel will be a sister vessel to the newbuilding was announced on 10 June 2022. The vessel purchase announced in June, will see the 5,500 TEU container vessel newbuilding, also under construction at HJ Shipbuilding, Korea, delivered in November 2023. 

Upon delivery, this vessel, too, will start a seven-year time charter contract with ZIM Integrated Shipping Services Ltd. which will add about USD 80 million to Ocean Yield's EBITDA backlog.


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