OCY: Company update
2026-06-25 15:06:52
25.6.2026 15:06:37 CEST | Ocean Yield | Non-regulatory press releases
Reference is made to a press release announcement on 25 June 2026 by Braskem
S.A. regarding the filing of a request for Precautionary Injunctive Relief.
Ocean Yield is the owner of two LEG carriers and four LR1 product tankers (two
of which are to be delivered) with long-term charters to subsidiaries of Braskem
Trading and Shipping B.V. The charters are in addition guaranteed by the parent
company Braskem S.A. The legal entities which are the respective charterers of
Ocean Yield's vessels are not included in the proceeding and Ocean Yield do not
expect this process to have any impact on payment of charter hire.
Notwithstanding the above, each charterer has paid a material cash security
deposit to Ocean Yield under a separate agreement, as compensation for Ocean
Yield temporarily waiving certain termination rights related to the guarantor.
The agreement is conditional upon continued full payment of charter hire
throughout the waiver period.
CONTACTS
* Andreas Røde, Chief Executive Officer, +47 98 22 85 62
* Eirik Eide, Chief Financial Officer, +47 950 08 921
* Karl Fredrik Schjøtt-Pedersen, Senior Vice President, +47 951 32 335
ABOUT OCEAN YIELD
Ocean Yield AS is a ship owning company with investments in vessels on long-term
charters. The company has a significant contract backlog that offers visibility
with respect to future earnings.
ity\
with respect to future earnings.\