Ocean Yield has carried out some resale business, announcing yesterday it has agreed to purchase two 36,000 cu m liquified ethylene gas carrier (LEG) newbuildings from unspecified owners to be constructed at Jiangsu Yangzi-Mitsui Shipbuilding in China. The vessels will be built with a specification enabling them to operate with gas as fuel.
Delivery of the vessels is expected in 2024 and 2025. Upon delivery, the vessels will commence 15-year bareboat charter contracts to a subsidiary of New York-listed Braskem, a transaction which will add approximately $245m to the Ocean Yield’s EBITDA backlog.
