Ocean Yield invests in construction of a dual-fuel vessel with methanol as fuel

Upon delivery, the vessel will commence a seven-year timecharter contract

Ocean Yield AS (“Ocean Yield” or the “Company”) is pleased to announce that the Company has agreed to purchase a 5,500 TEU container vessel newbuilding under construction at HJ Shipbuilding, Korea. The vessel is built with a design enabling it to be converted to dual fuel operation with methanol as fuel.

Delivery of the vessel is expected in November 2023. Upon delivery, the vessel will commence a seven-year timecharter contract to ZIM Integrated Shipping Services Ltd. which will add approximately USD 80 million to the Company’s EBITDA backlog.