SBI Virgo is an ultramax dry bulk vessel built in 2017 and employed on a long-term charter to Scorpio Bulkers Inc.
In the charter contract, Scorpio Bulkers Inc. has an option to sell SBI Virgo to an unrelated third party, which has now been declared. Ocean Yield ASA will receive proceeds of about USD 20 million and record a small book profit from the sale. Delivery of the vessel is expected during Q1 2021.
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.