Ocean Yield ASA takes delivery of the VLCC "Nissos Despotiko"
Ocean Yield ASA has taken delivery of the VLCC "Nissos Despotiko". The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the second in a series of four VLCCs that will be delivered to the Company in 2019, the company said in its release.
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.
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.