Ocean Yield acquires two modern Ultramax dry bulk vessels

|About: Ocean Yield ASA (OYIEF)|By:, SA News Editor

Ocean Yield (OTCQX:OYIEF -0.9%) has agreed to acquire two modern Ultramax dry bulk vessels for a total consideration of $42M net of a seller's credit, with 11-year bareboat charters to Scorpio Bulkers.

Ocean Yield has committed to part finance the scrubber installation on both vessels, with an additional $3M, which is expected in early 2020.

The vessels are built in 2017 and are expected to be delivered to the Company during Q2 2019.

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