Ocean Yield Acquires Sixth Bulker

Norway-based shipping company Ocean Yield has reached an agreement to acquire one handysize dry bulk newbuilding, scheduled for delivery by the end of September 2019.

"Ocean Yield has agreed to acquire one handysize dry bulk newbuilding with 10-year bareboat charter to a company owned and guaranteed by Interlink Maritime Corp," said a press release.

The purchase price is USD 18 million net of pre-paid charter hire, it said.

The vessel is expected to be delivered from the shipyard by the end of September 2019. Interlink will have certain options to either sell or acquire the vessel during the charter period.

Including this vessel, Ocean Yield will own six vessels on long-term charter to Interlink Maritime.

Interlink Maritime is an owner and provider of dry bulk vessels to agricultural and industrial commodities companies, shipping companies and other end-users. It was founded in 1979 by Paul Gurtler and owns a fleet of 28 handysize vessels.

Interlink is majority owned by The Carlyle Group, which is a global alternative asset manager with USD 223 billion of assets under management across 362 investment vehicles.