Ocean Yield takes delivery of first in a series of four VLCCs built at HHI

Ocean Yield ASA ("the Company") says that on May 3rd it took delivery of the VLCC "Nissos Rhenia". The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the first in a series of four VLCCs that will be delivered to the Company in 2019.

Upon delivery, the vessel commenced a 15 years' bareboat charter to Okeanis Eco Tankers Corp ("Okeanis Eco Tankers") with a 5 years' sub-charter to Koch Shipping Pte. Ltd.

Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuildings. With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers. The company is listed on the Oslo Stock Exchange under the ticker "OET".

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.