Ocean Yield ASA has received insurance proceeds of USD 26 million following the total constructive total loss of the car carrier Höegh Xiamen. After repayment of the bank debt related to the vessel, the net cash proceeds is about USD 11m.
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 and dividend capacity.