Ocean Yield To Acquire Three Suezmax Tankers For US$129.6 Million

Published: Dec 01 2017
Deal Summary

Ocean Yield ASA, a ship owning company, agreed to acquire three suezmax crude tankers, for a purchase consideration of US$129.6 million (MM) or US$43.2 MM per vessel, after seller's credit.

The transaction lies in Ocean Yield’s strategy to invest in modern vessels with long term charters. The delivery of the three vessels is expected to be in June, August, and October of 2018, respectively.

Ocean Yield will have 10-year bareboat charters to Nordic American Tankers Limited. The acquisition will enable Ocean Yield to increase its fleet of vessels.

Lars Solbakken, CEO of Ocean Yield, said, "We are pleased to announce the acquisition of three high quality suezmax tankers with long term charters to Nordic American Tankers Limited. This transaction fits well with our strategy to invest in modern vessels with long term charters."

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