STOCKHOLM, Feb. 12, 2020 /PRNewswire/ -- Ocean Yield ASA
("Ocean Yield" or the "Company") is pleased to announce that the
Company has agreed to acquire two ultramax and one kamsarmax dry
bulk vessels for a total consideration of USD 62.8 million net of pre-paid charter hire
with 9, 10 and 12 years bareboat charters to Scorpio Bulkers Inc.
("Scorpio Bulkers"). In addition, Ocean Yield has committed to part
finance the scrubber installation on the vessels, with an
additional of USD 1.5 million per
vessel during 2020.
The two ultramax vessels are built in 2015 and 2016 and the
kamsarmax vessel is built in 2018. All vessels are expected to be
delivered to the Company during Q1 2020. Scorpio Bulkers will have
certain options to either trigger a sale or acquire the vessels
during the charter period.
Scorpio Bulkers is a leading international provider of marine
transportation of dry bulk commodities that currently owns and
operates a fleet of 52 modern dry bulk vessels. Scorpio Bulkers is
a publicly listed company and trades on the New York Stock Exchange
under the ticker "SALT".
Ocean Yield's Chief Executive Officer Lars Solbakken said: "We are pleased to further
expand our relationship with Scorpio Bulkers with the investment in
three modern dry bulk carriers with long-term charters. Including
this transaction, Ocean Yield has now increased the fleet to 72
vessels."
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