Ocean Yield takes delivery of two modern Ultramax dry bulk vessels with 11-year charters
Ocean Yield ASA ("Ocean Yield") has taken delivery of the 2017 built Ultramax dry bulk vessels "SBI Libra" and "SBI Virgo" today. Upon delivery, the vessels commenced 11 years' bareboat charter to Scorpio Bulkers Inc.
Ocean Yield has further committed to part finance the installation of scrubbers on both vessels, which is expected in early 2020.
Scorpio Bulkers is a leading international provider of marine transportation of dry bulk commodities that currently owns and operates a fleet of 57 modern dry bulk vessels, specifically Ultramax and Kamsarmax vessels. Scorpio Bulkers is a publicly listed company and trades on the New York Stock Exchange under the ticker "SALT".
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.