Ocean Yield announces Completion of Vessel Sale

(Image Courtesy: Ocean Yield ASA)

Ocean Yield ASA announced successful completion of the five-year purchase option on chemical tanker ‘Navig8 Aquamarine’ on Wednesday. On December 25, 2019, Navig8 Chemical Tankers declared the five-year purchase option on Navig8 Aquamarine.

“Following repayment of the bank debt on the vessel, the transaction will give net cash proceeds of about USD 9.7 million for Ocean Yield. The transaction is not expected to have any impact on the net results for Q2 2020,” Ocean Yield ASA stated.

Navig8 Chemical Tankers Inc. has also exercised the five-year option for the vessel ‘Navig8 Amessi’ and that vessel is expected to be delivered towards the end of July, a press note released by Ocean Yield ASA read.

Sea News, June 11