Höegh Beijing is a car carrier built in 2010 and employed on a charter to Höegh Autoliners Shipping AS (“Höegh Autoliners”) until June 2022.
In the contract, Höegh Autoliners has an option to purchase the vessel at the end of the charter period, which has now been declared. The effective purchase date is 20th June 2022 with a purchase price of USD 22 million. Ocean Yield ASA will receive net cash proceeds after repayment of debt related to the vessel of about USD 12 million. The intention is to reinvest the net cash proceeds into new vessels with long-term charters.
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82
Ocean Yield ASA 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.