Norwegian shipowner Ocean Yield has bolstered its earnings power by buying two suezmaxes from Euronav.
Ocean Yield, controlled by US private equity giant KKR, said the 158,000-dwt Cypress and Cedar (both built 2022) will be bareboat-chartered back to their former owner over 14 years.
This will add $250m to Ocean Yield’s Ebitda backlog.
