Okeanis seals aframax sale and leaseback deal with Ocean Yield

Okeanis seals aframax sale and leaseback deal with Ocean Yield

Norway’s Ocean Yield has acquired a new suezmax tanker from Okeanis Marine Holdings and will charter it back to the Greek owner under a 14-year bareboat charter.

Ocean Yield has paid $54m for the vessel, with the purchase price including a seller’s credit of $7m giving a net purchase price of $47m. Okeanis will have options to acquire the vessel, the first option available after seven years.

Okeanis Maritime Holdings is the holding company for the Alafouzos family, whose vessels are operated under Kyklades Maritime.

Lars Solbakken, CEO of Ocean Yield, commented: “We are pleased to announce the investment in a new suezmax tanker, as it allows us to continue to grow and further diversify our portfolio into crude tankers. The transaction fits well with our strategy to invest in modern vessels with long term charters.”

The 2017-built vessel will be delivered to Ocean Yield by the end of the month.

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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