Ocean Yield AS Agrees to Acquire A 2016-Built Suezmax Tanker with an 8-Year Bareboat Charter to Nordic American Tankers Ltd

Ocean Yield ASA, formerly Ocean Yield AS, is a Norway-based company engaged in the investment in vessels within oil-service and industrial shipping, with long term charters. The Company's existing business consists of several investments within the maritime sector, spanning from Floating Production Storage and Offloading (FPSO) to seismic, oil service and car carrier vessels. It has ownership of one FPSO, the Dhirubhai-1, one offshore-construction vessel, the Aker Wayfarer, one seismic vessel, the Geco Triton and an investment in American Shipping Company's unsecured bond. The Dhirubhai-1 is on long term charter to Reliance Ltd., which includes a Bareboat contract and an Operations and Maintenance contract. The Aker Wayfarer is on long term charter to Aker Solutions ASA, while the Geco Triton is on long term charter to Western Geco, a subsidiary of Schlumberger.