Ocean Yield AS has announced an agreement to acquire Access Capital Partners' share in Geogas LNG, thereby increasing its indirect economic interest in France LNG Shipping (FLS) from 34% to 45%, according to the company's release.
This transaction is expected to add approximately USD 250 million to Ocean Yield's EBITDA backlog.
FLS, a joint venture between NYK and Geogas LNG, operates a fleet of 12 LNG carriers under long-term charters with tier-one European energy companies.
Currently, seven vessels are in operation, with five newbuilds on order. The vessels have an average contract duration of nine years, extendable to 13 years with options.
Ocean Yield's CEO, Andreas Røde, stated: "We are pleased to increase our exposure to FLS and its strong partnerships with NYK and Geogas Maritime."
The transaction is expected to close in the second or third quarter of 2025, subject to customary conditions.
Ocean Yield AS is a Norwegian ship-owning company specializing in investments in vessels on long-term charters. Ocean Yield focuses on generating stable cash flows through its diversified fleet.
France LNG Shipping (FLS) is a joint venture between NYK and Geogas LNG, FLS owns and operates LNG carriers on long-term charters with major European energy companies.