Ocean Yield and NYK Line pool resources on LNG vessel quartet with four more on the cards

Building on their previous ties, Norwegian shipowner Ocean Yield and Japan’s shipping giant Nippon Yusen Kabushiki Kaisha (NYK Line) have teamed up to split ownership in four liquefied natural gas (LNG) carriers that are yet to be constructed. However, available charter options could double the newbuilding fleet to eight LNG vessels.

While disclosing its new investment in LNG carriers on long-term charters, Ocean Yield explains that it has agreed to co-invest alongside NYK Line in four newbuilding LNG vessels, to be constructed in Korea for deliveries in 2028 and 2029. As a result, both companies will have an ownership interest of around 50% in these ships.

Andreas Røde, Chief Executive Officer, commented: “We are pleased to expand the partnership with NYK Line through this landmark transaction. Ocean Yield has over the last few years strategically entered the LNG segment, a sector that fits our investment mandate well with its infrastructure-like characteristics and long-term charters to strong counterparties.”