Kjell Inge Rokke’s Ocean Yield could be forced to cut back its dividend if it is unable to find employment or a buyer for its only FPSO.
Uncertainty has surrounded the unit since Reliance released the 214,266-cbm Dhirubhai-1 (built 1979) last year and fresh firm work from within Rokke’s empire or outside has yet to materialize.
The FPSO is one of four offshore assets in the Ocean Yield cataloge of more than 60 vessels which are without long-term contracts, a situation which dented results for the second quarter.
