Ocean Yield ASA announces delivery of gas carrier with long term charter to Hartmann
SABIC Ocean Yield ASA has announced the delivery of the 36,000 cbm liquefied ethylene gas carrier "Gaschem Orca" from Sinopacific Offshore & Engineering, China ("SOE"). The vessel is the second of two sister vessels delivered to the Company.
Upon delivery the vessel commenced a 15-year bareboat charter to the Hartmann Group and the vessel will enter into a 10 year sub-charter to SABIC Petrochemicals B.V ("SABIC") upon arrival in Houston in July.
The vessel will be used for shipments of ethane from Houston to SABIC's cracker in Teeside, UK. Ocean Yield ASA has now taken delivery of five vessels so far this year and the total fleet stands at 37 vessels, of which 36 has been delivered to the Company.
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. Ocean Yield ASA has an ambition to pay attractive quarterly dividends to its shareholders.