Ocean Yield AS announced that it has agreed to purchase four LR1 product tankers, to be constructed at Guangzhou Shipyard International (GSI) in China. The vessels will be built with a design enabling them to be converted to dual-fuel operation with methanol as fuel. Upon delivery (in 2026 and 2027), the vessels will commence 15-year bareboat charters to guaranteed subsidiaries of Braskem S.A. currently has credit ratings of BBB- from S&P and Fitch, and Ba1 from Moody's. The bareboat charter rate will have a variable element linked to the respective vessel's actual carbon emissions, incentivizing the charterer to keep emissions low.

To the Company's knowledge, this is the first sustainability-linked transaction in the maritime leasing market. The transaction will add approximately USD 300 million to the Company's EBITDA backlog.