Norwegian shipowner Ocean Yield has announced a $380m ship acquisition deal but is keeping details to a bare minimum.
The Oslo-listed company said it has entered into a term sheet to "invest" in unspecified vessels.
While not mentioning the number or ship type, Ocean Yield added that they average five years of age.
The new additions will be on 10-year bareboat charters with purchase obligations at the end of those terms.
"The investment is in line with Ocean Yield's investment policy. Conclusion of the investment remains subject to agreement on full documentation," the company added.
Chief executive Lars Solbakken told TradeWinds the company could not give any further information before all documentation has been signed.
KKR sale moving forward
The Kjell Inge Rokke controlled company is in the process of being sold itself.
US private equity company Kohlberg Kravis Roberts (KKR) has launched a NOK 7.2bn ($829.5m) takeover and intends to delist the company from the Oslo exchange.
The offer period for the stock began on 6 October and ends on 5 November.
A source familiar with KKR told TradeWinds the group became involved as a result of a strategic review by Rokke's Aker group of its ownership interest in Ocean Yield.
Aker, the largest shareholder through subsidiary Aker Capital, owns 61.65% of Ocean Yield.
Ocean Yield has a fleet including tankers, bulkers and containerships, with counterparties such as Navig8, Scorpio Tankers and Okeanis Eco Tankers, as well as a small stake in offshore vessel owner Solstad Offshore.
VesselsValue estimates Ocean Yield's 52 ships are worth $2.15bn.
