Ocean Yield
Ocean Yield AS is a Norwegian publicly-listed ship leasing company that owns approximately 74 vessels deployed on long-term bareboat and time charters to investment-grade counterparties across LNG, petrochemical, PCTC, and offshore energy segments.
- Company typePublic
- Founded2012
- HeadquartersLysaker, Norway
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Ocean Yield does
Ocean Yield AS is a Norwegian publicly-listed ship leasing company established in March 2012 and headquartered in Lysaker, Norway, with a secondary office in Valletta, Malta. Originally established as a wholly-owned subsidiary of Aker ASA, the company completed its initial public offering on Oslo Børs in July 2013 under ticker OCY (OTCQX: OYIEF) and now operates with 11-50 employees. The company owns a fleet of approximately 74 vessels — including LNG carriers, chemical and product tankers, Pure Car Truck Carriers (PCTC), offshore support vessels, AHTS vessels, ethane carriers, and LEG carriers — all deployed under long-term bareboat and time charter contracts (typically 8-15 years) to industrial shipping and energy counterparties.
The company's core business is the acquisition of vessels and their deployment under long-term charter contracts to investment-grade counterparties across LNG (Cheniere, NYK Line), petrochemical (Braskem, SABIC via Hartmann), PCTC (Höegh Autoliners), chemical tanker (Navig8), and offshore energy (SBM Offshore, Aker Solutions/AKOFS) segments. Vessel financing is sourced through senior unsecured bond issuances in NOK and USD across multiple tranches (OCY09-OCY13), supplemented by a USD 75 million hybrid bond that counts as equity on the balance sheet. Recent strategic activity includes a co-investment with NYK Line for eight newbuilding LNG carriers chartered to Cheniere Energy, a sustainability-linked lease with Braskem for methanol-ready LR1 tankers, and a joint acquisition with KKR of CapeOmega's 10-vessel LNG fleet from Partners Group.
Revenue is generated through predictable, recurring charter income from contracted counterparties. As of Q1 2026, the company reported an EBITDA charter backlog of USD 5.0 billion with an average remaining contract duration of 11 years, of which 56% derives from investment-grade rated counterparties. Quarterly revenue in Q1 2026 was USD 53.6 million with USD 47.3 million in EBITDA and USD 21.9 million in net profit. The company maintains a 31.7% equity ratio and USD 268.2 million in available liquidity, supporting continued fleet expansion through bond refinancings at improving credit margins.
Ocean Yield firmographics
Firmographics- Name
- Ocean Yield
- Legal name
- Ocean Yield AS
- Website
- https://oceanyield.no
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Ocean Yield AS is a Norwegian publicly-listed ship leasing company that owns approximately 74 vessels deployed on long-term bareboat and time charters to investment-grade counterparties across LNG, petrochemical, PCTC, and offshore energy segments.
- Ownership category
- akta.pro rank
Ocean Yield industry classification
Industry- Product category
- Maritime Ship Leasing
- SIC
- Water Transportation (4400)
- akta.pro primary industry
- Marine & Boat Finance (FSAKADAH)
- akta.pro secondary industry
- Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)
Keywords
Where Ocean Yield is headquartered
LocationHeadquarters
- HQ city
- Lysaker
- HQ country
- Norway
- HQ region
- Europe
Offices3 records
Markets served
Ocean Yield business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Others
Revenue model
- Bareboat Charter Revenue: Ocean Yield owns vessels and charters them to counterparties on 'hell and high water' bareboat charter basis. The company retains vessel ownership while counterparties pay fixed charter rates for the use of the vessels over contracted periods typically ranging from 8 to 15 years. Revenue is predictable based on contract backlog.
- Time Charter Revenue: Some vessels are chartered on time charter basis where Ocean Yield provides vessel and crew to counterparties. Revenue is generated through fixed or floating charter rates over contracted periods.
- Hybrid Bond Interest: Ocean Yield issued hybrid bonds (USD 75 million) that account for equity in the company's balance sheet, providing hybrid financing structure with perpetual characteristics and subordinated debt treatment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Senior unsecured bond OCY09 - NOK 1,050 million outstanding |
| Subscription | Monthly | Senior unsecured bond OCY10 - USD 110 million outstanding (hybrid/perpetual) |
| Subscription | Monthly | Senior unsecured bond OCY11 - NOK 1,251 million outstanding |
| Subscription | Monthly | Senior unsecured bond OCY12 - USD 150 million outstanding |
| Subscription | Monthly | Senior unsecured bond OCY13 - NOK 1,251 million outstanding |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Ocean Yield product offering
Product offeringCore offering
Ocean Yield AS acquires vessels and charters them to established shipping, energy, and petrochemical counterparties on long-term bareboat and time charter contracts (typically 8-15+ years). The company invests across multiple vessel segments including LNG carriers, chemical/product tankers, PCTCs, ethane carriers, LEG carriers, and offshore support vessels, generating predictable recurring charter revenue from investment-grade counterparties.
Product overview
Ocean Yield operates as a ship leasing company offering a unified platform of maritime asset investments on long-term charters. The core offering consists of ship leasing services supported by bond financing instruments. The vessel portfolio spans multiple segments: LNG carriers (including joint venture with NYK for Cheniere charters), LR1 chemical/product tankers (methanol-ready, sustainability-linked), chemical tankers (IMO II class), Pure Car Truck Carriers (PCTC), ethane carriers, offshore support vessels, AHTS vessels, and LEG carriers. Financing is facilitated through senior unsecured bond issuances (NOK and USD denominated) and hybrid bonds. All vessels are committed to long-term charters with investment-grade counterparties, providing contracted revenue visibility.
Differentiator
Problem solved
Functional benefit
Products and services
- Ship Leasing Services Core bareboat and time charter leasing of vessels to established shipping, energy, and petrochemical counterparties on long-term contracts (8-15+ years) with 'hell and high water' terms, providing predictable recurring revenue and earnings visibility.
- LNG Carrier Charter Services Long-term LNG carrier charters through a joint venture with NYK Line, with 8 vessels chartered to Cheniere Marketing International; features next-generation 200,000 cbm membrane-type vessels with X-DF2.1 dual-fuel engines and iCER technology reducing methane emissions by up to 50%.
- LR1 Methanol-Ready Tanker Leasing Next-generation 74,500-dwt LR1 chemical/product tankers financed by Ocean Yield and chartered on 15-year bareboat terms to Braskem Trading & Shipping; vessels offer approximately 30% lower CO2 emissions with IMO Tier III compliance, EEDI Phase III, and Green Star 3 notation. Sustainability-linked bareboat rate tied to emissions performance.
- Chemical Tanker Leasing Fleet of IMO II chemical tankers (37,000 dwt and 49,000 dwt) chartered on 15-year bareboat basis to Navig8 Chemical Tankers Inc., a joint venture between Oaktree and Navig8 Group.
- Pure Car Truck Carrier (PCTC) Leasing Pure Car and Truck Carriers of 4,900 and 8,500 car equivalent capacity chartered on long-term bareboat basis (8-12 years) to Höegh Autoliners, featuring advanced hull designs and fuel-efficient technologies.
- Liquefied Ethylene Gas (LEG) Carrier Leasing Three LEG carriers of 36,000 cbm ECO STAR 36K design with 15-year bareboat charters to Hartmann Group, who sub-charters them to SABIC Petrochemicals BV for ethane shipments from US to UK; vessels feature dual-fuel engines capable of running on LNG and ethane.
- Ethane Carrier Leasing Ethane carriers including the Brave Future vessel featuring dual-fuel engines with approximately 40% lower CO2 emissions than average fleet vessels, operating on routes between the US, Mexico, and Brazil.
- Offshore Support Vessel Leasing Diving support and offshore construction vessels including Lewek Connector and SBM Installer, chartered to EMAS AMC and SBM Offshore respectively; SBM Installer leased under a 12-year bareboat charter guaranteed by SBM Holding Inc. SA and equipped for subsea installation in harsh environments up to 3,000 meters water depth.
- AHTS Vessel Leasing Anchor Handling Tug Supply vessels of UT 731 CD design with 24,371 BHP and 265 mt bollard pull, chartered on 12-year bareboat basis to Farstad Supply (a 100% owned subsidiary of Farstad Shipping ASA).
- CapeOmega LNG Carrier Fleet Portfolio of 10 fuel-efficient LNG carriers acquired jointly with KKR from Partners Group in August 2025, focused on low-carbon maritime transportation.
Quantifiable outcome
- 30% lower CO2 emissions per vessel (LR1 tankers for Braskem)
- +2 more outcomes
Companies that use Ocean Yield
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
Ocean Yield technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Ocean Yield partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- BraskemcoreOcean Yield financed two next-generation LR1 tankers (Beautiful Future and Blooming Future) for Braskem Trading & Shipping. Vessels will transport naphtha between U.S. Gulf Coast and Brazil, featuring 30% lower CO2 emissions. Two additional ships under construction for delivery in 2026-2027. This represents Ocean Yield's inaugural sustainability-linked lease with emissions-linked bareboat rate.
- Cheniere Energy Inc.coreCheniere Marketing International, a subsidiary of U.S. energy company Cheniere Energy, exercises options to increase LNG carrier charters from the NYK-Ocean Yield partnership. Vessels feature 200,000 cubic meter membrane-type capacity with next-generation X-DF2.1 dual-fuel engines and iCER technology reducing methane emissions by up to 50%. Deliveries scheduled for 2028-2029.
- NYK LinecoreNorwegian shipowner Ocean Yield and Japanese shipping company NYK Line co-invest in new LNG carriers. The partnership involves building four vessels at HD Hyundai Heavy Industries for delivery from 2028, with options to expand to eight vessels. All vessels are chartered long-term to Cheniere Marketing International, marking NYK's first long-term LNG carrier charter agreement with Cheniere.
- Navig8 Chemical Tankers Inc.coreOcean Yield acquired eight newbuilding chemical tankers for USD 306.8 million in combination with 15-year bareboat charters to Navig8 Chemical Tankers Inc., a joint venture between Oaktree and Navig8 Group. Vessels include 37,000 dwt and 49,000 dwt IMO II chemical carriers built by Hyundai Mipo and STX Korea.
- SBM OffshorecoreOcean Yield acquired diving support and offshore construction vessel SBM Installer for USD 150 million with 12-year bareboat charter guaranteed by SBM Holding Inc. SBM will have options to acquire vessel during charter period. Ocean Yield established single-purpose company with 25% ownership retained by SBM.
- Hartmann GroupcoreOcean Yield entered into newbuilding contracts for three LEG (Liquefied Ethylene Gas) carriers with 15-year bareboat charters to Hartmann Group. Hartmann sub-chartered vessels for 10 years to SABIC Petrochemicals BV for ethane shipments from U.S. to UK. Vessels equipped with dual-fuel engines and innovative Star-Trilobe tank design.
- Höegh AutolinerscoreOcean Yield entered newbuilding contracts for two Pure Car Truck Carriers (PCTC) with 12-year bareboat charters to Höegh Autoliners. Vessels built by Xiamen Shipbuilding Industry Co. Ltd. Höegh responsible for shipbuilding supervision, technical management, and crewing. Höegh has options to acquire vessels during charter period.
Scale indicators15 records
Recent moves7 records
Expansion highlights6 records
Ocean Yield competitors and assessment
Company assessmentDirect peers
- Costamare Inc. Costamare is a container ship lessor operating a comparable long-term bareboat charter model with investment-grade counterparties. Its portfolio of 70+ container vessels on multi-year charters closely parallels Ocean Yield's approach across tanker and LNG segments.
- Avance Gas Holding Ltd: Avance Gas owns LPG carriers on long-term and spot charters. It shares Ocean Yield's business of owning modern, fuel-efficient gas carrier tonnage with Norwegian corporate governance heritage and a focus on predictable cash flow.
- Höegh LNG Holdings: Höegh LNG is a pure-play LNG carrier owner/lessor with long-term charters to energy majors. It competes directly for LNG carrier financing mandates and resembles Ocean Yield in its relationship-based, long-tenor charter model.
- Flex LNG Ltd: Flex LNG is a pure-play LNGC lessor with long-term contracts to investment-grade energy companies. Its modern fleet composition and contract-driven cash flow profile closely track Ocean Yield's LNG investments with Cheniere.
- Golar LNG Ltd: Golar owns and operates LNG carriers and FLNG units under long-term arrangements, competing in the same large-scale LNG vessel financing space as Ocean Yield's NYK JV and CapeOmega positions.
- Stolt-Nielsen Limited: Stolt-Nielsen combines chemical tanker operations with ship ownership and LNG shipping via a joint venture. Its chemical tanker and gas carrier exposure overlap Ocean Yield's Navig8/Cheniere portfolio mix.
- BW LPG Limited: BW LPG is the world's largest LPG carrier owner with a long-term charter and pool program. Its business model of owning modern gas carriers and contracting them to industrial counterparties mirrors Ocean Yield's ship leasing approach.
- Navios Maritime Partners L.P. Navios Maritime Partners is a diversified ship-owning platform with long-term charters in dry bulk, container, and tanker segments. Its long-tenor charter strategy and fleet diversification overlap Ocean Yield's portfolio construction approach.
- Danaos Corporation: Danaos is a containership lessor operating with long-term charters to liner operators. It shares Ocean Yield's emphasis on backlog visibility and investment-grade counterparty exposure on Greek/Norwegian ship lessor lines.
- DHT Holdings Inc. DHT Holdings is a pure-play VLCC tanker owner with long-term time charters and spot exposure. Its tanker focus and long-tenor contract strategy overlap Ocean Yield's tanker investments like the Braskem LR1s.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Ocean Yield social profiles
Digital presenceOcean Yield financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ocean Yield leadership team
Management profileNumber of profiles
Profiles3 records
Ocean Yield subsidiaries and ownership
Company hierarchySubsidiaries1 record
Ocean Yield funding detail
Funding detailFunding overview
Funding rounds5 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ocean Yield M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ocean Yield
What does Ocean Yield do?
Ocean Yield AS acquires vessels and charters them to established shipping, energy, and petrochemical counterparties on long-term bareboat and time charter contracts (typically 8-15+ years). The company invests across multiple vessel segments including LNG carriers, chemical/product tankers, PCTCs, ethane carriers, LEG carriers, and offshore support vessels, generating predictable recurring charter revenue from investment-grade counterparties.
Is Ocean Yield a public or private company?
Ocean Yield is a public company. It is classified as public and is currently operating.
When was Ocean Yield founded?
Ocean Yield was founded in 2012. It employs 11 to 50 people.
Where is Ocean Yield based?
Ocean Yield is headquartered in Lysaker, Norway, in the Europe region.
How does Ocean Yield make money?
Three revenue lines are on record. Bareboat Charter Revenue is the primary driver. The others are time Charter Revenue and hybrid Bond Interest.
Who are Ocean Yield's main competitors?
Direct peers on record are Costamare Inc., Avance Gas Holding Ltd, Höegh LNG Holdings, Flex LNG Ltd, Golar LNG Ltd, Stolt-Nielsen Limited, BW LPG Limited, Navios Maritime Partners L.P., Danaos Corporation and DHT Holdings Inc..
Does Ocean Yield have an API?
No public API is recorded for Ocean Yield.
What industry is Ocean Yield in?
Ocean Yield's product category is Maritime Ship Leasing. Its primary akta.pro industry code is FSAKADAH, Marine & Boat Finance, with a secondary code of TLADABAL, Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS). Its SIC code is 4400.