Joint venture with Aker Capital
In order to strengthen the balance sheet, Ocean Yield ASA (“Ocean Yield” or “Company”) has entered into an agreement with Aker Capital AS (“Aker”) whereby Aker will acquire from Ocean Yield 50% of 7 tankers with long-term charters. The Joint Venture (“JV”) will own four LR2 product tankers with long-term charter to the Navig8 Group and three suezmax tankers with long-term charter to Nordic American Tankers Ltd. Aker will pay USD 10.2 million for 50% of the shares in two new holding companies, which is equal to the book values. Ocean Yield will continue to guarantee the senior secured
OXE Marine AB commenced production of their new model, the OXE300, in May. After passing rigorous quality tests, the first units are now ready to be shipped to customers. The production of OXE300 will ramp up and move to new production facility in July.The team at OXE Marine AB has worked hard to design, test and produce the OXE300, a modular diesel outboard that utilize best in class components. In rigorous testing program, it has proven to be an uncompromised commercial outboard solution whilst also contributing to a safe, sustainable and ecologically positive marine environment.
“The
