Delivery of VLCC Newbuilding With 15-year Charter

STOCKHOLM, July 5, 2019 /PRNewswire/ -- Ocean Yield ASA ("the Company") is pleased to announce that it has taken delivery of the VLCC "Nissos Santorini" today. The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the third in a series of four VLCCs that will be delivered to the Company in 2019.

Upon delivery, the vessel commenced a 15 years' bareboat charter to Okeanis Eco Tankers Corp ("Okeanis Eco Tankers") with a 5 years' sub-charter to Koch Shipping Pte. Ltd.

Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuildings. With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019, the company will focus on eco-designed vessels fitted with scrubbers. The company is listed on the Oslo Stock Exchange under the ticker "OET".

Company contact:

Eirik Eide (CFO)
Tel +47-24-13-01-91

Investor Relations contact:

Marius Magelie (SVP Finance & IR)
Tel +47-24-13-01-82

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https://news.cision.com/ocean-yield/r/delivery-of-vlcc-newbuilding-with-15-year-charter,c2857837

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SOURCE Ocean Yield