Ocean Yield Adds Fifth Suezmax to Its Fleet

Norway-based shipping company Ocean Yield has taken delivery of the Suezmax tanker Milos, bringing its current fleet of Suezmaxes to five.

Upon its delivery on February 7, the 2016-built vessel commenced its employment under a 13-year bareboat charter deal with Okeanis Eco Tankers (OET).

Featuring 157,525 dwt, Milos was built by Sungdong Shipbuilding in Korea and is a sister vessel to Ocean Yield’s Poliegos, which is on charter with OET since mid-2017.

As earlier noted by the company, the purchase price of USD 56 million for Milos includes a seller’s credit of USD 7 million, giving a net purchase price of USD 49 million.

The Greek charterer Okeanis Eco Tankers will have certain options to acquire the vessel during the charter period, according to Ocean Yield. 

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