Ocean Yield Accepts Delivery of Another VLCC Newbuild

Norway-based ship owning company Ocean Yield ASA has taken delivery of Nissos Despotiko, a very large crude carrier (VLCC).

Illustration. Image Courtesy: Pixabay under CC0 Creative Commons license

The 319,000 dwt tanker was delivered by Hyundai Heavy Industries (HHI) in South Korea.

Nissos Despotiko is the second in a series of four VLCCs that will be handed over to the company in 2019, following the last month’s delivery of its sister vessel Nissos Rhenia.

Upon delivery, the vessel commenced a fifteen-year bareboat charter to Greece-based Okeanis Eco Tankers Corp with a five-year sub-charter to Koch Shipping.

The Marshall Islands-flagged newbuild features a length of 330 meters and a width of 60 meters. It currently has a market value of USD 96.3 million, according to data provided by VesselsValue.

Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuilds. 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.