Ocean Yield Adds Louis Dreyfus Handysize Bulker

Norwegian shipowner Ocean Yield took delivery of a newly-built handysize dry bulk vessel, the La Fresnais, on April 10.

Following the delivery, the 2018-built unit commenced a 12-year bareboat charter to a company owned and guaranteed by French maritime firm Louis Dreyfus Armateurs Group (LDA).

Featuring a length of 179.9 meters and a beam of 30 meters, the bulker was constructed by China’s Jiangmen Nanyang Ship Engineering.

The 39,400 dwt unit has a market value of over USD 18 million, VesselsValue data shows.

The bulker is a part of the agreement reached in mid-February, under which Ocean Yield agreed to acquire two 2018-built vessels with 12-year bareboat charters to companies owned and guaranteed by LDA. Ocean Yield is paying USD 18 million per vessel after a seller’s credit.

Louis Dreyfus Armateurs has options to acquire the bulkers during the charter period, with the first purchase option exercisable after five years in addition to an obligation to repurchase the vessels at the end of year 12.

The latest newbuilding was delivered only a day after Ocean Yield expanded its fleet with the handysize dry bulk vessel Interlink Amenity on April 9.

The 38,500 dwt Interlink Amenity commenced a 10-year bareboat charter to a company owned and guaranteed by Interlink Maritime after being handed over.

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