Ocean Yield Buys Ultramax Duo

Ocean-Yield

Ocean Yield has agreed to acquire two modern Ultramax dry bulk vessels for USD 42 million net of a seller’s credit.

The vessels, built in 2017, have 11-year bareboat charters with Monaco-based dry bulk shipping company Scorpio Bulkers.

In addition, Ocean Yield has committed to part finance the scrubber installation on both vessels, with an additional USD 3 million, which is expected in early 2020.

The bulkers are expected to be delivered to the company during the second quarter of 2019. Scorpio Bulkers will have certain options to either sell or acquire the vessels during the charter period.

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