Norway's Ocean Yield will make a profit of $9.7m from completing the disposal of a chemical carrier on Wednesday.
The company said it had finalised a deal with Navig8 Chemical Tankers to hand back the 38,000-dwt Navig8 Amessi (built 2015).
Navig8 declared a five-year buyback option for the bareboated vessel under a sale and leaseback agreement in January.
The profit will be accounted for after Ocean Yield repays bank debt on the tanker, the Norwegian company said.
The Oslo-listed ship lessor, controlled by tycoon Kjell Inge Rokke, said the UK company has paid $26.5m for the vessel.
Delivery was originally set for 22 July.
Ocean Yield acquired 100% of the ship for $36.2m in a leaseback deal with Navig8 in 2015.
VesselsValue assessed the tanker as worth $29.3m when the option was declared.
Ocean Yield operates in Navig8's Alta8 chemical tanker pool and Navig8 has been paying an undisclosed "hell or high water" fixed bareboat fee for the ship to Ocean Yield.
The lease was due to expire in August 2030.
Major client
Navig8 Chemical, with a fleet of 32 ships, accounted for 9% or $313m of Ocean Yield's $3.7bn charter backlog in January, with sister operation Navig8 Group having another 7%.
Last year, Ocean Yield added to its fleet in a deal with an unnamed major Chinese leasing company.
The shipowner said it agreed to buy four modern LR2 tankers with long-term charters to companies owned and guaranteed by Navig8 holding company Navig8 Topco Holdings.
The price was $132m in total, or an average price of $33m per vessel.
The scrubber-fitted ships were built in 2018 and 2019. They have nine years remaining on bareboat charters to Navig8, with purchase options.
In 2017, TradeWinds reported that Navig8 was plotting an order for up to eight LR2s at China’s New Times Shipbuilding, with support from Minsheng Financial Leasing.
