La Loirais is a handysize dry bulk vessel built in 2018 and employed on a long-term charter to Louis Dreyfus Armateurs (“LDA”), the company said in its release.
LDA has declared an option to sell La Loirais to an unrelated third party. Ocean Yield ASA will receive proceeds of USD 16.2 million and record a small book profit from the sale.
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.