Norway’s shipping company Ocean Yield has secured another contract extension for its Lewek Connector subsea vessel with Singapore’s Ezra Holdings.

Earlier in May, Ocean Yield ASA signed a bareboat charter contract for the vessel at a rate of USD 40,000 per day.

Ocean Yield announces extension of charter contract for the Lewek Connector
Caption: Offshore Support Vessel Lewek Connector - Image courtesy of Nicolaj Jepsen

The charter is currently running until 15 October 2017, following the declaration of certain extension options.

Ocean Yield announced yesterday that the Company has now entered into a contract for extension of the Charter for a firm period until 15 November 2017, plus further extensions in charterer's option for a period up until 23 December 2017, at a rate of USD 40,000 per day.

Ocean Yield is a ship-owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield has an ambition to pay attractive quarterly dividends to its shareholders.

Source: Ocean Yield