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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: GlobalData
Provider: GlobalData

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Ocean Yield ASA Closes Transactions for Two Newbuilding Car Carriers with 12-Year Charter to Hoegh Autoliners

Monday, 16 Sep 2013 02:18am EDT 

Ocean Yield ASA announced that the Company has entered into newbuilding contracts for two Pure Car Truck Carriers (PCTC) of 8,500 car capacity with Xiamen Shipbuilding Industry Co. Ltd (Xiamen). The vessels will be delivered in January and April 2016, and will after delivery be chartered on 12-year sa called hell and high water bareboat charter contracts to Hoegh Autoliners (Hoegh). Ocean Yield has secured long-term debt financing for approximately 70% of the investment. The remaining amount will be funded by equity. Total delivered cost for the two vessels will be approximately USD 137 million.