Ocean Yield buys stake in LNG-powered containership

Norway’s Ocean Yield is expanding its partnership with Singapore-based Quantum Pacific Shipping by buying into a new LNG-powered containership.

The Oslo-listed shipping firm said it would make the investment through Box Holdings, its joint venture with Quantum Pacific Shipping formed in 2016, which already owns six mega container vessels with long-term charters.

Ocean Yield says the LNG-powered container vessel has an 18-year bareboat charter with a major European container line.

In addition, South Korea’s Hyundai Heavy would deliver the vessel, with a capacity of 15,300 TEUs, in the third quarter of 2022, the firm said, but it did not reveal any additional information.

Idan Ofer’s Eastern Pacific Shipping manages the fleet of Quantum Pacific Shipping. Ofer is also the principal of Quantum Pacific Group.

According to the EPS website, the company has in total 23 LNG-powered containerships in operation or on order.

These include twelve vessels chartered by France’s CMA CGM but also eleven newbuilds that will go on charter to Switzerland-based MSC.

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