Sale of dry bulk vessels


16 Feb 2021

SBI Cronos and SBI Achilles are ultramax dry bulk vessels built in 2015 and 2016 and employed on long-term charters to Scorpio Bulkers Inc.

In the charter contracts, Scorpio Bulkers Inc. has options to sell SBI Cronos and SBI Achilles to third parties, which have now been declared. Ocean Yield ASA will receive proceeds of about USD 38 million and record a small book profit from the sales. Delivery of the vessels is expected to take place during Q2 2021.

Company contact:

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82

Company information:

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.