EuropeFinance and InsuranceTankers

Ocean Yield takes two Scorpio LR2s

Ocean Yield is investing in two modern LR2 product tankers, STI Gallantry and STI Guard, with 10-year bareboat charters to Scorpio Tankers with purchase obligations at the end of the charters.

The total net purchase price is about $70m, net of seller’s credits. The company expects to take delivery of the vessels this month.

Following this latest deal, Ocean Yield will own six LR2 product tankers with long-term charters to Scorpio Tankers.

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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