Ocean Yield Purchases Second Methanol-Ready Containership Under Construction

Norway-based shipowner Ocean Yield has agreed to purchase a second methanol-ready containership newbuilding for long-term charter to Israeli carrier ZIM.

The 5,500 TEU capacity containership is under construction at HJ Shipbuilding in South Korea with delivery expected in May 2023. Upon delivery, the vessel will commence a seven-year time charter to ZIM which Ocean Yield says will add approxiamtely $80 million to its EBITDA backlog.

The vessel will be a sister vessel to the 5,500 TEU newbuilding announced in June 2022. Both are designed to be converted to dual fuel operation with methanol as fuel.

The vessel announced in June is also under construction at HJ Shipbuilding with delivery expected in November 2023. It will also be time chartered to ZIM for seven years and add $80 million to Ocean Yield’s EBITDA backlog.