Take two

Ocean Yield of Norway has firmed up a $90m contract to acquire a pair of pure car/truck carriers.
Lars Solbakken

Ocean Yield is led by CEO Lars Solbakken.

In a filing with the Oslo bourse the company said the duo will be bareboat chartered to Hoegh Autoliners.

Ocean Yield failed to identify the vessels by name but said both were built in 2010 and boast 4,900-car carrying capacities.

Upon delivery in the second quarter of this year the owner indicated the ships will be chartered to Hoegh for eight years.

“Hoegh will have certain options to acquire the vessels during the bareboat charter period, with the first option after five years,” it added. “The transaction is subject to agreement on final documentation.”

In a statement Ocean Yield chief executive Lars Solbakken pointed out that this is his company’s third transaction with Hoegh and noted its charter backlog will have surpassed the $2bn mark when pen meets paper.

Ocean Yield made headlines just hours ago when it unveiled a $243m order for a series of 36,000-cbm LPG carriers that will be chartered to Germany’s Hartmann on a bareboat basis for 15 years upon delivery in 2016.

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