Delivery of gas carrier with long term charter to Hartmann / SABIC
Ocean Yield ASA ("Ocean Yield" or "Company") is pleased to announce the delivery
of the 36,000 cbm liquefied ethylene gas carrier "Gaschem Orca" from Sinopacific
Offshore & Engineering, China ("SOE"). The vessel is the second of two sister
vessels delivered to the Company.
Upon delivery the vessel commenced a 15-year bareboat charter to the Hartmann
Group ("Hartmann") and the vessel will enter into a 10 year sub-charter to SABIC
Petrochemicals B.V ("SABIC") upon arrival in Houston in July. The vessel will be
used for shipments of ethane from Houston to SABIC's cracker in Teeside, UK.
Ocean Yield ASA has now taken delivery of five vessels so far this year and the
total fleet stands at 37 vessels, of which 36 has been delivered to the Company.
Lars Solbakken (CEO), Tel +47 24 13 01 90
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Marius Magelie (SVP Finance & IR), 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 and dividend capacity. Ocean Yield
ASA has an ambition to pay attractive quarterly dividends to its shareholders.