Ocean Yield announced the investment in Newcastlemax Newbuildings with long term charters
Ocean Yield AS is pleased to announce that the Company has agreed to acquire up to ten newcastlemax dry bulk newbuildings for a total consideration of up to USD 576 million net of seller’s credits.
Upon delivery, the vessels will commence 15-year bareboat charters to a leading dry bulk operator with purchase obligations at the end of the charter period. Expected delivery will be between Q1 2025 and Q2 2026.
The final transaction scope will be a minimum of five and a maximum of ten vessels, to be determined at a later stage. Assuming a transaction scope of ten vessels, the transaction will add around USD 950 million to the Company’s EBITDA backlog.
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