Norwegian sale-and-leaseback specialist is enjoying more flexibility under its private equity ownership, according to chief executive Andreas Rode.

US giant Kohlberg Kravis Roberts (KKR) bought 100% of the shipowner’s shares in 2021.

Ocean Yield’s first-quarter report revealed no dividend is being paid, despite net profit coming in at $23m.

Chief executive Andreas Rode told a conference call with analysts that the capital allocation policy is always determined by the strength of the balance sheet and upcoming and potential growth opportunities.