Sale of dry bulk vessels

STOCKHOLM, Sweden, Feb. 16, 2021 /PRNewswire/ -- SBI Cronos and SBI Achilles are ultramax dry bulk vessels built in 2015 and 2016 and employed on long-term charters to Scorpio Bulkers Inc.

In the charter contracts, Scorpio Bulkers Inc. has options to sell SBI Cronos and SBI Achilles to third parties, which have now been declared. Ocean Yield ASA will receive proceeds of about USD 38 million and record a small book profit from the sales. Delivery of the vessels is expected to take place during Q2 2021.

CONTACT:

Company contact:

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ocean-yield/r/sale-of-dry-bulk-vessels,c3288334

SOURCE Ocean Yield