Ocean Yield and Quantum Pacific add newbuild boxship to joint venture
Norway’s Ocean Yield has sealed a deal with Idan Ofer’s Quantum Pacific Shipping to acquire a 49.9% stake in a dual-fuel 15,300 teu newbuild container vessel.
The investment will be made through Box Holdings, a joint venture with Quantum Pacific. Delivery is scheduled for the third quarter of 2022, when the vessel will go out on a 18-year bareboat charter to a major European container line.
Box Holdings currently owns six mega container vessels with long-term charters, and is currently working on a refinancing which is expected to release a significant cash which may be used for further investment.
Quantum Pacific’s fleet is managed by Singapore’s Eastern Pacific Shipping, with over 180 vessels currently under management.
Lars Solbakken, CEO of Ocean Yield, commented: “We are pleased to expand our partnership with Quantum Pacific Shipping, a group with extensive experience in the container segment and an excellent reputation. This investment will contribute to further increase our charter backlog and future dividend capacity.”
Cyril Ducau, CEO of Eastern Pacific, added: “We are happy to again partner with Ocean Yield on this exciting project. Our relationship has only become stronger over time, and we look forward to continuing to grow our business together going forward.”
