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Ocean Yield fixes 4-month deal with Ezra

Ocean Yield fixes 4-month deal with Ezra

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Norway’s Ocean Yield has come to an agreement with troubled Singaporean offshore firm Ezra Holdings over the charter of the subsea construction vessel Lewek Connector.

Ocean Yield had just scrapped a charter deal with EMAS Chiyoda Subsea, a JV between Ezra, NYK and Chiyoda as no fees had been paid on the vessel for the past couple of months. Ezra stood as the guarantor on this charter deal and has managed to forge a deal with Ocean Yield this week whereby it will take the ship on charter for four months at a rate of $40,000 a day.

“Ocean Yield will continue to participate in the discussions regarding a financial restructuring of the EMAS Chiyoda Subsea Group,” the Norwegian firm said in a release today.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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