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Ocean Yield ASA (OCY.OL)

OCY.OL on Oslo Stock Exchange

15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Ocean Yield ASA​ reports Q3 net profit after tax of USD 31.3 mln
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - Ocean Yield ASA -:Ocean Yield ASA says ‍EBIDTA for q3 2017 was USD 80.6 million​.Qtrly ‍net profit after tax was USD 31.3 million​.  Full Article

Ezra updates on winding up application against EMAS-AMC
Tuesday, 14 Feb 2017 

Ezra Holdings Ltd : Was made aware that Necotrans Singapore filed winding up application with High Court of Singapore on 6 Feb 2017 to wind up EMAS-AMC . Winding up application against EMAS-AMC has been fixed for hearing on 3 March 2017 . Is open to enter into discussions with Ocean Yield in relation to Bareboat Charter of Lewek Connector . In event discussions with various stakeholders does not achieve a favourable outcome, group will be faced with a going concern issue .Outcome of discussions with stakeholders may materially impact businesses and operations of group and its financial statement for 1Q2017.  Full Article

Ocean Yield updates on gas carriers under construction at Sinopacific
Friday, 14 Oct 2016 

Ocean Yield ASA : Updates on gas carriers under construction at Sinopacific . Construction of vessel no. 1 is going according to plan and vessel is expected to be delivered towards end of October 2016 . Vessel no. 1 will thereafter enter into its long term charter with Hartmann/Sabic . For vessel no. 2, Sumec Marine Co. Ltd., will finance and finalise construction of vessel at Dayang Shipyard . Expected delivery date for vessel no. 2 will be July 1, 2017 . For vessel no. 3 it has been agreed, in collaboration with Hartmann/Sabic, that this vessel is cancelled . $16.2 million paid in pre-delivery instalments to shipyard for vessel no. 3 shall be repaid with 5 pct interest upon cancellation of shipbuilding contract .Says cancellation is not expected to have any material accounting effect in Q4.  Full Article

Ocean Yield: Kjell Inge Røkke buys 100,800 shares at average of NOK 64.66/shr
Friday, 30 Sep 2016 

Ocean Yield ASA : Kjell Inge Røkke has acquired 100,800 shares in Ocean Yield at an average price of 64.66 Norwegian crowns ($8) per share . Following deal, Røkke owns directly 280,800 shares in Ocean Yield .Together with his wife, Røkke controls 68.18 percent of shares in Aker ASA , which again controls 66.29 percent of outstanding shares in Ocean Yield.  Full Article

Ocean Yield buys two chemical tankers with long term charters
Tuesday, 27 Sep 2016 

Ocean Yield ASA : Has agreed to acquire two 45,000 dwt IMO II chemical carriers for consideration of $35 million per vessel in combination with 12-year "hell and high" bareboat charters to Navig8 Ltd . Purchase price includes seller's credit of $6.0 million per vessel, which will amortise to zero over charter period and carries no interest .Two vessels, which were built in 2013, will be delivered to Ocean Yield within end of September and November 2016 respectively.  Full Article

Ocean Yield raises $103 in private share placement
Thursday, 1 Sep 2016 

Ocean Yield Asa : NOK 862 million ($103.45 million) private placement fully subscribed . subscription price of NOK 64 per share vs Wednesday closing of NOK 67 on the Oslo Bourse . Due to strong demand, Aker has been allocated zero new shares in order to give priority to other investors to improve the overall free float in the share . "important milestone in our efforts to build Ocean Yield into a substantially larger company. The share issue will also contribute to increase the free float in the Ocean Yield share, making it even more attractive for larger investors" .Danske Bank, DNB Markets, Nordea Markets, Pareto Securities and Skandinaviska Enskilda Banken have acted as Joint Lead Managers in the Private Placement.  Full Article

Ocean Yield Q2 EBITDA rises to $63.4 million
Wednesday, 13 Jul 2016 

Ocean Yield ASA : Reported on Tuesday Q2 revenues of $70.1 million versus $63.2 million in Q2 2015 . Q2 EBITDA of $63.4 million versus $56.0 million in Q2 2015 . Q2 net profit after tax was $25.5 million versus $25.8 million in Q2 2015 .Declared a dividend of $0.1725 per share for Q2 2016.  Full Article

Ocean Yield updates on bareboat agreements with Farstad Shipping
Monday, 4 Jul 2016 

Ocean Yield ASA : Farstad Shipping ASA (Farstad) enters into standstill agreement with secured lenders . Certain covenants in bareboat agreements with Farstad have been waived until Oct. 1, 2016 .Farstad Supply AS will continue to pay full bareboat hire to Ocean Yield during standstill period.  Full Article

Ocean Yield buys 49.5% in six container vessels
Monday, 20 Jun 2016 

Ocean Yield ASA : Acquires 49.5 percent interest in six mega container vessels . Ocean Yield's equity investment in transaction will be approximately $162 million in total . Vessels are owned by Quantum Pacific Shipping and are on 15-year bareboat charters to a European container line. .Vessels, are scheduled for delivery between June 2016 and Feb. 2017..  Full Article

Ocean Yield targets $350 million in annual new investments
Tuesday, 7 Jun 2016 

Ocean Yield ASA : Says targets $350 million in annual new investments . Delivery of 13 newbuildings during 2016 and Q1 2017 . Total fleet will grow to 27 vessels by Q1 2017 . Says increased deal flow in Q2 2016 with focus on chemical and product carriers, gas carriers and container vessels . Says newbuilding programme fully funded as of Q1 2016 . EBITDA backlog of $2.6 billion with average tenor of 10.2 years .Says all vessels on longterm charter.  Full Article

BRIEF-Nordic American Tanker Says Entered Into Agreements With Subsidiary Of Ocean Yield