Annual Report and ESG Report 2023

Fornebu, 28^th February 2024, Ocean Yield AS ("Ocean Yield" or the "Company") publishes its fourth quarter 2023 results, the 2023 Annual Report and ESG Report for 2023.

The results and management comments for the fourth quarter can be found on pages 88-94 in the Annual Report.

HIGHLIGHTS FOR Q4 2023

• EBITDA for Q4 2023 was USD 55.3 million and Adjusted EBITDA was USD 88.2 million.
• Net profit for Q4 2023 was USD 23.3 million.
• Strong balance sheet, with an equity ratio of 28.2% and USD 115.8 million in cash.
• During the quarter, the Company agreed to acquire a 2016-built Suezmax tanker with eight-year bareboat charter to Nordic American Tankers Ltd.
• The Company also agreed to acquire two 2022-built Suezmax tankers with 14-year bareboat charters to guaranteed subsidiaries of Euronav NV.
• The two AHTS vessels previously trading in a pool with Solstad Offshore ASA, commenced new five-year bareboat charters to Viking Supply Ships AB.
• The EBITDA charter backlog at the end of Q4 2023 was USD 4.2 billion with an average remaining contract duration of 10.2 years.

Andreas Røde, CEO of Ocean Yield, said in a comment:

“The fourth quarter was another active quarter for Ocean Yield, where we acquired three Suezmax vessels and took delivery of one container vessel from the yard. Ocean Yield continues to deliver strong results, with a net profit for the year of USD 92.5 million and an EBITDA charter backlog of USD 4.2 billion as of year-end. The Company is selectively evaluating new investments in vessels with long-term charters, while always taking the cyclicality of the underlying shipping segments into account.“

Files available