Acquisition of Newcastlemax dry Bulk Newbuilding With Long-term Charter

STOCKHOLM, June 28, 2019 /PRNewswire/ -- Ocean Yield ASA ("Ocean Yield" or the "Company") is pleased to announce that the Company has agreed to acquire one 206,000 dwt newcastlemax dry bulk newbuilding for a total consideration of USD 40 million net of a seller's credit, with 15-year bareboat charter to CMB NV ("CMB").

The vessel is expected to be delivered from the shipyard in Q1 2020. CMB will have certain options to either sell or acquire the vessel during the charter period.

Ocean Yield's Chief Executive Officer Lars Solbakken said in a comment: "We are delighted to expand our relationship with CMB with the acquisition of one newcastlemax dry bulk vessel, bringing our fleet up to a total of 61 vessels. Ocean Yield now has one dry bulk vessel and four container feeder vessels on long-term charter to CMB."

Company contact:

Eirik Eide (CFO)
Tel +47-24-13-01-91

Investor Relations contact:

Marius Magelie (SVP Finance & IR)
Tel +47-24-13-01-82

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SOURCE Ocean Yield