Ocean Yield announces investment in two chemical tankers with long-term charters
Ocean Yield ASA (“Ocean Yield” or the “Company”) is pleased to announce that the Company has agreed to acquire two 2015 built 37,000 dwt IMO II chemical tankers with 12-year bareboat charters to companies owned and guaranteed by Ardmore Shipping Corporation (“Ardmore Shipping”). The aggregate purchase price is approximately USD 51 million net of pre-paid charter-hire. The vessels are both built by Hyundai Mipo Dockyard in South Korea and are expected to be delivered to the Company during Q4 2018. Ardmore Shipping will have certain options to acquire the vessels during the charter period.