Delivery of newcastlemax dry bulk newbuilding with long-term charter

30 Oct 2019

Ocean Yield ASA is pleased to announce the delivery of the newcastlemax dry bulk vessel "Bulk Seoul" from the yard today.

Upon delivery the vessel commenced a 13 years' bareboat charter to a company owned and guaranteed by 2020 Bulkers Ltd. ("2020 Bulkers").

Including this vessel, 2020 Bulkers has three vessels in operation and five newcastlemax dry bulk vessels under construction at New Times Shipyard in China.

All vessels are expected to be delivered by May 2020 and will be fitted with exhaust scrubber systems. The company is listed on Oslo Axess with ticker "2020".

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 press release