US/UK/Canada

Share

About Us

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.

Contacts

  • Marius Magelie

    Senior Vice President Finance & Investor Relations


    Oksenøyveien 10, PO Box 5013, 1327 Lysaker, Norway
    +47 24 13 01 82
    +47 920 27 419
    http://www.oceanyield.no
    • Pick a time period -
    Tags ( Active)

    Successful placement of new hybrid capital

    Ocean Yield AS (“Ocean Yield” or the "Company”) has successfully completed a new perpetual callable hybrid bond ("Hybrid Bond") issue of USD 75 million, carrying a coupon of SOFR + 5.35% p.a. with quarterly interest payments. The Hybrid Bond issue attracted strong interest and was well oversubscribed. Net proceeds from the Hybrid Bond will be used for general corporate purposes. The Hybrid Bond will be accounted for as equity in the balance sheet and constitute subordinated obligations of the Company. Arctic Securities, Danske Bank, Nordea and SEB acted as Joint Lead Managers in

    Fixed Income Investor Meetings

    Ocean Yield AS (“Ocean Yield” or the "Company”) has mandated Arctic Securities, Danske Bank, Nordea and Skandinaviska Enskilda Banken as Joint Lead Managers to arrange a series of fixed income investor meetings commencing 29[th] February 2024. A new USD perpetual callable hybrid bond issue may follow, subject to inter alia market conditions. The proceeds from the potential new issue are to be applied towards general corporate purposes of the group.

    Annual Report and ESG Report 2023

    Fornebu, 28[th] February 2024, Ocean Yield AS ("Ocean Yield" or the "Company") publishes its fourth quarter 2023 results, the 2023 Annual Report and ESG Report for 2023. The results and management comments for the fourth quarter can be found on pages 88-94 in the Annual Report. HIGHLIGHTS FOR Q4 2023 · EBITDA for Q4 2023 was USD 55.3 million and Adjusted EBITDA was USD 88.2 million. · Net profit for Q4 2023 was USD 23.3 million. · Strong balance sheet, with an equity ratio of 28.2% and USD 115.8 million in cash. · During the quarter, the Company agreed to acquire a 2016-

    Invitation to webcast of Q4 2023 results

    Ocean Yield AS will present the Q4 2023 financial results on Thursday 29[th] February 2024. We invite bondholders and other interested parties to attend the webcast. Webcast · Date: Thursday 29[th] February 2024 · Time: 09:00 CET · Webcast: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240229_9 · A PDF presentation will be available for download here: https://www.oceanyield.no/Investor-Relations/Reports-and-presentations

    Changes to the Board of Directors

    Ocean Yield AS (“Ocean Yield” or the "Company”) is pleased to announce that Ms. Rebecca Lund Nakkim will join the Board of Directors with effect from today. Ms. Nakkim has a Master of Laws degree from the University of Oslo and is currently employed as a lawyer with the law firm BAHR, with focus on shipping and finance. At the same time, Mr. Andreas Røde and Mr. Eirik Eide will resign from the Board of Directors. Mr. Røde and Mr. Eide will continue in their capacity as CEO and CFO of the Company. Following this, the Board of Directors will consist of Vincent Policard (Chairperson),

    Third quarter results 2023

    Fornebu, 21[st] November 2023, Ocean Yield AS (“Ocean Yield” or the “Company”)announces results for the third quarter 2023. Highlights · EBITDA for Q3 2023 was USD 51.5 million and adjusted for lease effects was USD 79.0 million. · Net profit for Q3 2023 was USD 18.5 million. · Strong balance sheet, with an equity ratio of 30.6% and USD 133.8 million in cash. · During the third quarter, the Company signed an agreement to acquire four LR1 newbuilding product tankers with sustainability-linked long-term bareboat charters to Braskem S.A. · Also during the quarter, the

    Invitation to webcast of Q3 2023 results

    Ocean Yield AS will present the Q3 2023 financial results on Wednesday 22[nd] November 2023. We invite bondholders and other interested parties to attend the webcast. Webcast · Date: Wednesday 22[nd] November 2023 · Time: 09:00 CET · Webcast: https://channel.royalcast.com/landingpage/hegnarmedia/20231122_2/ · A PDF presentation will be available for download here: https://www.oceanyield.no/Investor-Relations/Reports-and-presentations

    Investment in two Suezmax tankers with sustainability-linked lease

    Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that it has agreed to acquire two 2022-built Suezmax tankers. Both vessels were built at Daehan Shipbuilding in Korea. Upon delivery (expected in the fourth quarter), the vessels will commence 14-year bareboat charters to guaranteed subsidiaries of Euronav NV, a leading crude oil tanker company, listed on the New York Stock Exchange and Euronext Brussels. The bareboat charter rates will have a variable element linked to the respective vessel’s actual carbon emissions, incentivizing the charterer to keep emissions low.

    Investment in Suezmax tanker with long-term charter

    Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that it has agreed to acquire a 2016-built Suezmax tanker with an 8-year bareboat charter to Nordic American Tankers Ltd. (“NAT”) with a purchase obligation at the end of the charter period. The vessel will be delivered to Ocean Yield during the fourth quarter. NAT is a leading crude tanker company listed on the New York Stock Exchange with a fleet of 20 Suezmax tankers. CEO Andreas Røde said in a comment: "This is the third transaction between Ocean Yield and NAT since 2017, reflecting the strength of the long-term

    Successful placement of senior unsecured bonds

    Ocean Yield AS (“Ocean Yield”) has successfully completed a new bond issue of NOK 750 million, carrying a coupon of 3 months NIBOR + 3.75% p.a. with quarterly interest payments. The bond issue attracted strong interest and was well oversubscribed. The net proceeds from the bond issue will be applied towards refinancing of outstanding debt and general corporate purposes. In conjunction with the new bond issue, Ocean Yield has repurchased USD 12 million of outstanding bonds with ticker OCY06 (ISIN: NO0010861594) and NOK 121 million of outstanding bonds with ticker OCY07 (ISIN: NO0010869720)

    Fixed Income Investor Meetings

    Ocean Yield AS (“Ocean Yield”) has mandated Arctic Securities, Danske Bank, DNB Markets and Nordea, as Joint Lead Managers to arrange a series of fixed income investor meetings commencing Friday 1 September 2023. A new NOK 750 million 5-year senior unsecured floating rate bond issue may follow, subject to inter alia market conditions. The proceeds from the potential bond issue are to be applied towards refinancing of outstanding debt and general corporate purposes. In connection with the potential bond issue, Ocean Yield will offer a conditional buyback of its outstanding bond with

    Second quarter and first half year results 2023

    Fornebu, 23[rd] August 2023, Ocean Yield AS (“Ocean Yield” or the “Company”) announces results for the second quarter and first half year of 2023.Highlights  · EBITDA for Q2 2023 was USD 59.1 million and EBITDA adjusted for finance lease effects was USD 86.5 million.  · Net profit for Q2 2023 was USD 27.7 million.  · Strong balance sheet, with an equity ratio of 31.1% and USD 115.9 million in cash.  · Signed an agreement to acquire four LR1 newbuilding product tankers with sustainability-linked long-term bareboat charters to Braskem S.A.. · Agreement with CMB N.V. that

    Investment in four product tankers with inaugural sustainability-linked lease

    Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that it has agreed to purchase four LR1 product tankers, to be constructed at Guangzhou Shipyard International (GSI) in China. The vessels will be built with a design enabling them to be converted to dual-fuel operation with methanol as fuel. Upon delivery (in 2026 and 2027), the vessels will commence 15-year bareboat charters to guaranteed subsidiaries of Braskem S.A., a leading global petrochemical company listed on the New York Stock Exchange. Braskem S.A. currently has credit ratings of BBB- from S&P and Fitch, and

    Update on investment in newcastlemax newbuildings with long-term charters

    Reference is made to the stock exchange release dated December 6, 2022, where Ocean Yield AS (“Ocean Yield”) announced an agreement to acquire a minimum of five and a maximum of ten vessels with expected delivery dates between Q1 2025 and Q2 2026. Ocean Yield has now agreed with the charterer that the final transaction scope will be eight or nine vessels, with expected delivery dates between Q3 2024 and Q4 2025. Upon delivery, the vessels will commence 15 year bareboat charters to guaranteed subsidiaries of CMB N.V.

    There are no items matching the current filter
    There are no more items matching the current filter
    Back to top

    Subscribe