Completion of Vessel Sale

STOCKHOLM, June 10, 2020 /PRNewswire/ -- With reference to the press release dated 25th December 2019, where Navig8 Chemical Tankers Inc. declared the five-year purchase option on the chemical tanker "Navig8 Aquamarine", the transaction was successfully completed today. Following repayment of the bank debt on the vessel, the transaction will give net cash proceeds of about USD 9.7 million for Ocean Yield. The transaction is not expected to have any impact on the net results for Q2 2020.

Navig8 Chemical Tankers Inc. has also exercised the five-year option for the vessel "Navig8 Amessi" and that vessel is expected to be delivered towards the end of July.

CONTACT:

Company contact:

Eirik Eide (CFO), Tel +47-24-13-01-91

Investor Relations contact:

Marius Magelie (SVP Finance & Investor Relations), Tel +47-24-13-01-82

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https://news.cision.com/ocean-yield/r/completion-of-vessel-sale,c3128556

SOURCE Ocean Yield