Ocean Yield to buy two modern Ultramax dry bulk vessels

Ocean Yield, the Norway-based shipping company has agreed to buy two modern Ultramax dry bulk vessels for USD 42 million net of a debt facility.

Two vessels, have 11-year bareboat charters with Monaco-based dry bulk shipping company Scorpio Bulkers and were built in 2017.

Also, Ocean Yield shipping company has entrusted to definite finance the scrubber installation on both vessels, with an additional USD 3 million, which is expected in early 2020.

The bulkers are planned for delivery to the company during the second quarter of 2019. Scorpio Bulkers will have certain options to either sell or acquire the vessels during the charter period.

“We are delighted to expand and further diversify our portfolio with the investment in two modern Ultramax dry bulk carriers with long-term charters to Scorpio Bulkers. Including these two vessels, Ocean Yield will have a fleet of 60 vessels,” Lars Solbakken, Ocean Yield’s CEO, commented.

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