Delivery of suezmax crude tanker with 13-year charter

Ocean Yield ASA (“Ocean Yield”) is pleased to announce that it has taken delivery of the modern suezmax crude tanker “Milos” today. The vessel was built in 2016 by Sungdong Shipbuilding in Korea and is a sister vessel to “Poliegos”, another Suezmax vessel owned by Ocean Yield.

The vessel commenced a 13 years’ bareboat charter to Okeanis Eco Tankers Corp (“Okeanis Eco Tankers”) upon delivery.

Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuildings. With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers. The company is listed on the Oslo Stock Exchange Merkur Markets under the ticker “OET-ME”.

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.