Delivery of newbuilding suezmax crude tanker with 10-year charter

Ocean Yield ASA is pleased to announce that it has today taken delivery of the newbuilding suezmax crude tanker Nordic Tellus from Samsung Heavy Industries’ shipyard in South Korea.

The vessel commenced a 10 years’ bareboat charter to Nordic American Tankers Limited (“NAT”) upon delivery.

NAT is a crude tanker company listed on the New York Stock Exchange with a fleet of 25 Suezmax tankers, including three vessels on long-term bareboat charter from Ocean Yield ASA.

Company contact:

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

Investor Relations contact:

Marius Magelie (SVP Finance & IR), 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.