Ocean Yield buys methanol-ready boxship newbuild

Norwegian shipowner Ocean Yield has agreed to purchase a new 5,500 teu container vessel under construction in South Korea for an undisclosed sum. 

The vessel will be built at HJ Shipbuilding & Construction, formerly known as Hanjin Heavy Industries & Construction. It has been designed to convert to dual-fuel operation with methanol as fuel, Ocean Yield said in an Oslo filing.

After delivery, expected in November 2023, the vessel will commence a seven-year time charter contract with Israeli carrier ZIM.

Earlier this year, ZIM fixed a new charter transaction with a group of investors initiated by MPC Capital, taking six 5,500 teu HJ Shipbuilding newbuilds for seven years. VesselsValue data shows, that the unit set to deliver in November next year came with a price tag of $65m.

Ocean Yield said the charter is expected to add approximately $80m to its EBITDA backlog.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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