Ocean Yield Accepts Delivery of Two Scorpio Ultramaxes

  • Business & Finance

Norwegian shipowner Ocean Yield ASA has taken delivery of two Ultramax dry bulk vessels purchased from Monaco-based Scorpio Bulkers. 

As informed, the ships, SBI Cronos and SBI Achilles, commenced nine- and ten-year bareboat charters to Scorpio.

The 61,000 SBI Cronos and SBI Achilles were built in Japan in 2015 and 2016, respectively.

In February this year, the two companies signed a sale and leaseback agreement for the two Ultramaxes and one Kamsarmax. Under the deal, Ocean Yield bought the ship trio for USD 62.8 million net of pre-paid charter hire with long-term bareboat charters to Scorpio.

Additionally, Ocean Yield committed to partly finance the scrubber installation on the three abovementioned vessels, with an additional of USD 1.5 million per vessel during 2020.

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