Ocean Yield Firms Up Newcastlemax Order

Norwegian shipowner Ocean Yield on Friday announced it has finalized order details for a series of new Newcastlemax bulk carriers.

The company announced in December 2022 that it had agreed to acquire a minimum of five and a maximum of 10 vessels with expected delivery dates between Q1 2025 and Q2 2026.

Ocean Yield now revealed it has agreed with the charterer that the final transaction scope will be eight or nine vessels, with expected delivery dates between Q3 2024 and Q4 2025.

Upon delivery, the vessels will commence 15-year bareboat charters to guaranteed subsidiaries of CMB N.V., Ocean Yield said.