Shippingtelegraph: Ocean Yield reports EBITDA charter backlog of $4.3bn at end Q2

by Shipping Telegraph

Norway’s ship owning company Ocean Yield AS has reported an EBITDA charter backlog of $4.3bn at the end of the second quarter of 2025 and an average remaining contract duration of 9.9 years.

The total fleet counted 65 vessels at the end of the second quarter, which includes wholly and partly owned vessels and vessels under construction.

Ocean Yield reported its financial results for the second quarter and first half year of 2025, showcasing robust growth in its fleet operations and strategic investments.

The company took delivery of the suezmax vessels Nordic Galaxy and Nordic Moon, that were acquired during the first quarter. Both vessels commenced their 8-year bareboat charters to Nordic American Tankers Ltd. upon delivery.

During the second quarter, Ocean Yield also agreed with Nordic American Tankers Ltd (NAT) to amend and extend the bareboat charters for three suezmax tankers delivered in 2018.

Also, during the second quarter, the company closed the incremental investment in France LNG Shipping, increasing the company’s economic interest in 12 LNG carriers, from 34% to 45%.

Furthermore, the shipowner took delivery of four newcastlemax new buildings during the second quarter. This includes the Mineral Suomi, Mineral Sverige, Mineral Polska and the Mineral Cesko. All vessels are chartered out on long term bareboat charters to CMB.TECH.

Post quarter end, the company, together with vehicles controlled by KKR, agreed to acquire CapeOmega Gas Transportation AS, a company which has investments in ten LNG carriers operated by Knutsen LNG.

As informed, seven vessels are currently on the water with an average age of two years, and three vessels are to be delivered from the shipyard in Korea in 2025 and 2026. All vessels are employed on long-term charters to energy companies, Shell, Engie and QatarEnergy, with an average remaining contract duration of nine years, or 16 years including extension options.

“Together with KKR, we announced a significant investment in 10 LNG carriers operated by Knutsen LNG, all secured on long-term charters to investment-grade rated counterparties,” commented the chief executive of Ocean Yield Andreas Røde.

“Our fleet continues to grow and diversify, and with an EBITDA charter backlog of USD 4.3 billion and an average remaining contract duration of 9.9 years, we are well-positioned for sustained growth and value creation,” he added in a statement.