Ocean Yield snaps up BP PSV pair

Ocean Yield snaps up BP PSV pair

Norway’s Ocean Yield has acquired a pair of 2014-built platform supply vessels from BP Shipping for $105.4m.

The vessels, NS Orla and NS Frayja, are on 15-year bareboat charters to Aker BP. The charters commenced late 2014 at a rate of $17,253 per day.

Ocean Yield is financing the acquisition by a combination of debt and equity, having received an offer for a $65m senior secured loan facility.

Lars Solbakken, CEO of Ocean Yield, commented: “We are pleased to announce the investment in two additional vessels on long term charter, as it allows us to continue to grow and further diversify our portfolio, adding a strong counterparty with a market capitalization of approximately USD 5.4 billion.”

The vessels are expected to be delivered during June 2017.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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