Sale of handysize dry bulk vessel

29 Dec 2020

La Loirais is a handysize dry bulk vessel built in 2018 and employed on a long-term charter to Louis Dreyfus Armateurs ("LDA").

LDA has declared an option to sell La Loirais to an unrelated third party and the transaction was completed today.

Ocean Yield ASA will receive proceeds of USD 16.2 million and record a small book profit from the sale.

Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity.

Ocean Yield ASA press release