Sale-and-leaseback specialist Ocean Yield says it is financing another suezmax tanker owned by Nordic American Tankers (NAT).
The KKR-backed Norwegian shipowner has snapped up a 2016-built million-barrel ship for bareboat charter back to NAT over eight years.
A price has not been revealed.
The ship is the 158,600-dwt Cherokee (built 2016), which NAT has just agreed to buy from Greece’s CM Lemos for $72m.
Ocean Yield confirmed to TradeWinds the deal is for NAT’s new tanker, without naming it.
The only other 2016-built vessel listed in the NAT fleet is the 157,700-dwt Nordic Star.
US-listed NAT has an obligation to buy back the leased vessel at the end of the charter.
Ocean Yield will take delivery of the tanker during the fourth quarter.
The leaseback company has seven suezmaxes in its fleet already, including five operated by NAT.
Ocean Yield said in a filing to the Oslo Stock Exchange that this is the third transaction concluded with the tanker owner since 2017.
Long-term partnership
This reflects the strength of the long-term partnership between the two companies, according to Ocean Yield chief executive Andreas Rode.
“We have a long track record of successfully growing with our partners, and we are pleased to continue to support NAT with its fleet growth and renewal,” he added.
The transaction will add about $80m to Ocean Yield’s Ebitda, the company added.
TradeWinds reported US brokers as identifying the Cherokee as the vessel NAT purchased this month.
NAT had earlier said it was expanding its fleet to 20 tankers but did not name the new acquisition.
