Ocean Yield gives nod to buy another methanol ship

Ocean Yield has agreed to buy another 5,500 teu container vessel, which will be built at HJ Shipbuilding and Construction in South Korea. The Norwegian owner expects to receive the vessel by May 2023. The vessel designed to be converted to dual-fuel operation with methanol as fuel.

The vessel has been fixed to Israeli carrier ZIM for seven years, with the deal expected to add around $80m to Ocean Yield’s EBITDA backlog.