Delivery of chemical tanker with 15 years charter

Ocean Yield ASA is pleased to announce the delivery of the 49,000 dwt IMO II chemical tanker "Navig8 Turquoise" from STX,Korea.

After being delivered from the shipyard today, the vessel commenced a 15 years "hell and high water" bareboat charter to Navig8 Chemical Tankers Inc.

This is the fifth vessel delivered in a series of total eight chemical tankers that will be chartered to Navig8 Chemical Tankers Inc.

Ocean Yield ASA's Chief Executive Officer Lars Solbakken said in a comment: "Year to date we have taken delivery of four vessels and will during the next twelve months take delivery of another nine vessels bringing the fleet to a total of 27 vessels."

Company contacts:

Lars Solbakken, CEO of Ocean Yield ASA Phone: +47 24 13 01 90 E-mail: lars.solbakken@oceanyield.no

Eirik Eide, CFO of Ocean Yield ASA Phone: +47 24 13 01 91 E-mail: eirik.eide@oceanyield.no

Investor Relations Contact:

Marius Magelie, Senior Vice President Finance & IR Phone: +47 24 13 01 82 E-mail: marius.magelie@oceanyield.no

About Ocean Yield:

Ocean Yield is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield has an ambition to pay attractive quarterly dividends to its shareholders.