Ocean Yield ASA (“Ocean Yield” or the “Company”) has entered into a term sheet to invest in vessels with a total purchase price of USD 380 million. The vessels have an average age of about five years, and will be on 10-year bareboat charters with purchase obligations at the end of the charter period. The investment is in line with Ocean Yield’s investment policy. Conclusion of the investment remains subject to agreement on full documentation.
Source: Ocean Yield