Ocean Yield is a ship-owning company. Its vessels are chartered out on long-term contracts, which offers predictability for future earnings and dividend capacity.
The company holds a diversified portfolio of modern vessels. Its fleet consist of 68 ships on long-term contracts, within various shipping segments, including chemical tankers, dry bulk vessels, container vessels, crude tankers, vessels for car transportation, gas carriers, and oil-service vessels.
Aker’s ownership agenda
Aker’s main ownership priorities for Ocean Yield are portfolio growth and diversification, focus on counterparty risk, and a new contract to secure a solution for the FPSO Dhirubhai-1. Together with the company, Aker also continuously works to optimize the capital structure, reduce capital costs and maintain an attractive dividend.
Aker supports Ocean Yield’s strategy of growing the company over time through value-generating transactions and further portfolio diversification in terms of both the number of counterparties and segments. Diversification helps insulate the company against fluctuation in individual segments.
Kjell Inge Røkke and Frank O. Reite represent Aker on Ocean Yield’s board of directors.
A modern fleet with low emissions
Ocean Yield invests in modern ships. Its fleet consists of vessels with an average age of four years, and the CO2 and other climate gas emissions are significantly lower than other comparable ships.
All operating ships are on long-term bareboat charters, which means that Ocen Yields is not exposed to operational risks. Its counterpart is responsible for operating and for reporting emissions and other matters. The company’s bareboat contracts have clear documentation requirements for how counterparties shall comply with international environmental regulations. Ocean Yield is in a process of establishing reporting systems and procedures for relevant key indicators for fuel consumption and emissions, as well as measures to reduce greenhouse gas emissions and other environmental prevention measures.