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Ocean Yield Reports First Quarter Results

Ocean Yield AS announces results for the first quarter 2022.

Highlights

  • EBITDA for Q1 2022 was USD 41.1 million and EBITDA adjusted for finance lease effects was USD 68.4 million.
  • Net profit for the period Q1 2022 was USD 22.1 million and adjusted net profit for Q1 2022 was USD 21.4 million.
  • The sale of the vessels Navig8 Pride and Navig8 Providence was completed during the first quarter.
  • Post quarter end, delivery of one newbuilding Suezmax tanker with long-term charter.
  • Continuing to expand the organisation with the recruitment of new talents.
  • The shipping markets strengthened during the quarter leading to further improved counterparty risk in the portfolio.

Andreas Røde, CEO of Ocean Yield, said in a comment:

“It was a steady quarter of operation for Ocean Yield with solid results and improved counterparty risk in the portfolio. We are continuing to evaluate new investments in vessels on long-term charter with the aim to continue to expand and diversify the portfolio and charter backlog going forward. ”

Full Report

Source: Ocean Yield

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