Delivery of product tanker with 13 years charter

Ocean Yield ASA is pleased to announce the delivery of the LR2 product tanker "Navig8 Sanctity" from Sungdong Shipyard, Korea. After being delivered from the shipyard today, the vessel commenced a 13 years "hell and high water" bareboat charter to Navig8 Product Tankers Inc. This is the second vessel delivered in a series of total four product tankers that will be chartered to Navig8 Product Tankers Inc.

Ocean Yield ASA's Chief Executive Officer Lars Solbakken said in a comment: "Ocean Yield's is experiencing strong growth in its fleet through the delivery of vessels on long term charters to first class shipping companies. Year to date we have taken delivery of three vessels and will during the next twelve months take delivery of another ten vessels, bringing the fleet to a total of 27 vessels. The deliveries further diversifies our fleet into new shipping segments and strengthens our earnings."

For further information, please contact: 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