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The Norwegian Shipping Company Ocean Yield AS Made a Purchase of a 5,500 TEU Containership Under Construction in Korea
According to reports, the containerships will be sister vessels to two new constructions announced on July 10 and 18 of this year, with a design that allows for conversion to dual-fuel operation with methanol as fuel.
The delivery of the containership is expected in the third quarter of 2023, and after delivery, the vessel will begin a seven-year charter agreement with ZIM Integrated Shipping Services.
Founded in 2012, Ocean Yield focuses on ship investments in long-term charters. At the end of 2021, the company changed ownership when Octopus Bidco AS, a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. LP and its affiliates (KKR), acquired all shares of Ocean Yield.
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The Largest Containership in the World!
Acceleration of Decarbonization
The increased demand for methanol-powered vessels in the past year was driven by the acceleration of decarbonization in the shipping industry, which saw more than 40 methanol-powered ships added to the order count. As a carbon-neutral solution that is largely available today, methanol is becoming widely popular in the maritime sector, especially considering that other alternatives, such as ammonia, have a long way to go before becoming mainstream.
The main benefits of methanol include its density, which does not affect the cargo capacity of ships, its relative safety for bunkering, and its attractive pricing. More on ships: Offshore Giant Company Signs Contract with Petrobras for Tugboat Supply and
New Ship Contracts. DOF Group, a giant company in the shipping sector, secured a contract in Brazil for one of its Anchor Handling Tug Supply (AHTS) vessels, as well as new ship contracts in West Africa and the North Sea. The contract was made by its subsidiary Norskan Offshore, which signed the agreement with Petrobras for the Brazilian-flagged AHTS vessel class 21,000 Skandi Amazonas until March 2023.
Other DOF Contracts Around the World
DOF Offshore also received a contract to support an FPU for a “major operator” in West Africa, utilizing the Skandi Constructor, Skandi Iceman, Skandi Hera, and a third-party vessel.
Additionally, the Skandi vessel has been assigned to support drilling operations in the Dutch sector of the North Sea, with the charter starting in November and providing 100 days of vessel use. The estimate for these contracts is approximately R$ 260 million (around € 25 million).
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