Norwegian leasing company Ocean Yield has expanded its fleet with the acquisition of a container ship newbuilding resale.

It is buying a wide-beam 5,500-teu ship under construction at South Korea’s HJ Shipbuilding & Construction (HJSC), formerly known as Hanjin Heavy Industries & Construction, the company confirmed.

The conventionally-fuelled vessel has been designed to be converted to dual-fuel operation with methanol as fuel.

Ocean Yield did not disclose the seller’s identity. The vessel is expected to be delivered in November 2023. Financial terms were not disclosed.

Zim has agreed to take the vessel on a seven-year charter once it is delivered. The charter contract will add around $80m to Ocean Yield's Ebitda backlog.

Container ships account for about 24% of Ocean Yield’s current Ebitda backlog of $3.1bn, according to a recent investor presentation.

Ocean Yield is thought to have acquired the container ship from Germany’s MPC Capital, shipping sources told TradeWinds.

It is one of the six newbuildings the German tonnage provider booked at HJSC last year at a reported price of $65m per ship.

In March, US-listed Zim disclosed that it chartered six 5,500-teu newbuildings that are under construction at HJSC from MPC Capital for seven years.

Zim chief executive Eli Glickman described the deal as “another attractive chartering transaction for newbuild vessels” that secures “modern and efficient tonnage vessels which are ideally suited to serve on our expanded network of expedited services, as well as other regional services”.

Ocean Yield was previously controlled by Norwegian tycoon Kjell Inge Rokke and was taken over by US private equity giant Kohlberg Kravis Roberts (KKR) at the end of last year.

The company was delisted from the Oslo Stock Exchange following the takeover.