Ocean Yield and NYK Line invest in LNG carriers on long-term charters
Published by Jessica Casey,
Editor
LNG Industry,
Ocean Yield AS has agreed to co-invest alongside Nippon Yusen Kabushiki Kaisha (NYK Line) in four newbuilding LNG carriers, to be constructed in Korea for deliveries in 2028 – 2029. Both parties will have an ownership interest of around 50% in the vessels.
Upon delivery, each vessel will commence long-term time charters to an investment grade-rated major energy company. The transaction is estimated to add around US$600 million to Ocean Yield’s EBITDA backlog. The charterer may exercise extension options to extend the charter duration. The charterer is also granted options that may increase the size of the investment to eight vessels.
CEO, Andreas Røde, commented: “We are pleased to expand the partnership with NYK Line through this landmark transaction. Ocean Yield has over the last few years strategically entered the LNG segment, a sector that fits our investment mandate well with its infrastructure-like characteristics and long-term charters to strong counterparties.”
Read the article online at: https://www.lngindustry.com/lng-shipping/30122025/ocean-yield-and-nyk-line-invest-in-lng-carriers-on-long-term-charters/