Ocean Yield snaps up third methanol-capable boxship

Norwegian shipowner Ocean Yield is buying its third methanol-capable 5,500teu container ship built in South Korea.

The ship will be built at HJ Shipbuilding and Construction Company (formerly known as Hanjin Heavy Industries) and is expected to be delivered in the third quarter of 2023.

Prices for the wide-body newbuild, which has not been disclosed, will be leased to Israeli carrier Zim for seven years, adding $80 million to KKR-owned Ocean Yield’s EBITDA backlog.

The vessel may be one of those chartered at the yard by German owner MPC Capital for ZIM, two of which Ocean Yield snapped up in June and July this year.