Ocean Yield Extends Tanker Fleet

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  • Ocean Yield ASA has taken delivery of the 2016-built Suezmax crude tanker Milos.
  • The Suezmax had been purchased for US$56M with a seller’s credit of US$7M, producing a net purchase price of US$49M.
  • Milos will commence a 13-year bareboat charter to Okeanis Eco Tankers Corp.
  • With a fleet expansion, the company will focus on eco-designed vessels fitted with scrubbers.

According to Tanker Shipping, Ocean Yield ASA has announced it has taken delivery of the 2016-built Suezmax crude tanker Milos.

Suezmax delivered

The price was not reported, but in a presentation Ocean Yield noted that a 2016-built Suezmax had been purchased for US$56M with a seller’s credit of US$7M, producing a net purchase price of US$49M.

The presentation noted that the Suezmax in question was financed by a US$39M bank facility. This is believed to refer to Milos, the only 2016-built Suezmax tanker in the Ocean Yield fleet.

Vessel Specs

The vessel was built by Sungdong Shipbuilding in South Korea and is a sister vessel to Poliegos, another Suezmax vessel owned by Ocean Yield.

Milos will commence a 13-year bareboat charter to Okeanis Eco Tankers Corp upon delivery.

Focus on scrubber vessels

Okeanis Eco Tankers was established in 2018 by the Alafouzos family of Greece to take over its fleet of modern tanker vessels and tanker new buildings.

With seven tankers built from 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers.

Ocean Yield is listed on the Oslo Stock Exchange Merkur Markets under the ticker OET-ME.

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Source: tankershipping

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