Ocean Yield acquires and charters back CMB newcastlemax

Ocean Yield acquires and charters back CMB newcastlemax

Norwegian owner Ocean Yield has agreed to acquire a 206,000 dwt newcastlemax newbuilding from Belgian owner CMB for a price of $40m.

The vessel is expected to be delivered from the shipyard in the first quarter of 2020, and will be bareboat chartered back to CMB for 15 years. CMB will have certain options to either sell or acquire the vessel during the charter period.

“We are delighted to expand our relationship with CMB with the acquisition of one newcastlemax dry bulk vessel, bringing our fleet up to a total of 61 vessels. Ocean Yield now has one dry bulk vessel and four container feeder vessels on long-term charter to CMB,” said Ocean Yield’s CEO Lars Solbakken.

Last year, Ocean Yield acquired four 2014-built 3,800 teu containerships from CMB and chartered them back for 12 years.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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