Ocean Yield goes to arbitration as Okeanis seeks VLCCs' return

The bid by Greece's Okeanis Eco Tankers to take back ownership of four VLCCs from Ocean Yield will be settled at arbitration.

Ocean Yield said in its fourth quarter report that the matter has now been referred to a tribunal.

"If the arbitration panel rules in favour of Okeanis Eco Tankers, Ocean Yield expects to book a small net profit and a net positive cash effect of about $60m," it added.