Ocean Yield Buys Methanol-ready Containership

Norwegian shipowner Ocean Yield announced it has agreed to purchase a 5,500 TEU containership under construction at HJ Shipbuilding in South Korea. The vessel is built with a design enabling it to be converted to dual fuel operation with methanol as fuel.

The newbuild is scheduled to be delivered in November 2023.

Upon delivery, the vessel will commence a seven-year time charter contract to Israeli ocean carrier ZIM, Ocean Yield said, adding that the charter will add approximately $80 million to its EBITDA backlog.