Norwegian shipowner Ocean Yield has splashed out on two dual-fuel gas carriers in China.
The sale-and-leaseback specialist said the 36,000-cbm liquefied ethylene gas newbuildings will be built at Jiangsu Yangzi-Mitsui Shipbuilding (Yamic) for delivery in 2024 and 2025.
No price has been revealed, but the ships will be chartered by New York-listed petrochemical company Braskem for 15 years on a bareboat basis.
KKR-owned Ocean Yield said the transaction will add $245m to its Ebitda backlog.
Yamic, better known for bulkers, is already building three 40,000-cbm LPG carriers for Hartmann of Germany.
Yamic is a tie-up between China’s Yangzijiang and Japan’s Mitsui E&S Shipbuilding.
Last month, Ocean Yield expanded its fleet with the acquisition of a container ship newbuilding resale.
It confirmed that it is buying a wide-beam 5,500-teu ship under construction at South Korea’s HJ Shipbuilding & Construction, formerly known as Hanjin Heavy Industries & Construction.
The conventionally fuelled vessel has been designed to be converted to dual-fuel operation using methanol.
Ocean Yield did not disclose the seller’s identity, but sources told TradeWinds it is MPC Capital of Germany.
Financial terms were not disclosed.
Zim has agreed to take the ship on a seven-year charter once it is delivered in November 2023.
This deal is expected to add around $80m to Ocean Yield’s Ebitda backlog.
