Scorpio Tankers to merge with Navig8 Product Tankers
Ocean Yield ASA has accepted Scorpio Tankers request to amend the bareboat charter parties between wholly owned subsidiaries of Ocean Yield and Navig8 Product Tankers to reflect that NPTI is replaced by STNG as Charter Guarantor and certain other logical changes related to the new counterparty, the company said in its press release.
Ocean Yield 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.