INVESTMENT IN SIX VLCCS WITH LONG-TERM CHARTERS
With reference to the press release dated 13 October 2021, Ocean Yield ASA (“Ocean Yield” or the “Company”) is pleased to announce that the Company has agreed to invest in six VLCCs with 10-year bareboat charters to International Seaways Inc. (“International Seaways”) with purchase obligations at the end of the charters. The total net purchase price is about USD 375 million, net of seller’s credits. Five of the VLCCs were built in 2016 and one in 2015. Ocean Yield expects to take delivery of the vessels during Q4 2021. International Seaways is one of the largest tanker companies