Ocean Yield AS has agreed to acquire up to 10 Newcastlemax dry bulk newbuildings for a total consideration of up to US$576 million net of seller’s credits.
Upon delivery, the vessels will commence 15-year bareboat charters to a leading dry bulk operator with purchase obligations at the end of the charter period. Expected delivery will be between 1Q25 and 2Q26.
The final transaction scope will be a minimum of five and a maximum of ten vessels, to be determined at a later stage. Assuming a transaction scope of 10 vessels, the transaction will add around US$950 million to the company’s EBITDA backlog.