World News
A.P. Moller Holding to Acquire Ship Leasing Firm Ocean Yield from KKR
A.P. Moller Holding has agreed to acquire Norwegian ship leasing company Ocean Yield from investment firm KKR.
Headquartered in Oslo, Ocean Yield owns interests in more than 70 vessels, including LNG carriers, gas carriers, container ships, crude, product and chemical tankers, and dry bulk carriers, the company announced in a press release on Thursday.
Since acquiring the company in 2021, KKR has supported more than $3 billion in investments to expand and diversify Ocean Yield’s fleet and customer base.
The company has also nearly doubled its long-term contracted revenue backlog to more than $5 billion.
A.P. Moller Holding said Ocean Yield’s stable cash flow and long-term leasing model complement its existing maritime investments and align with its long-standing presence in the shipping industry.
“We believe that combining Ocean Yield’s compelling platform with our century-long experience in the maritime industry will create a strong partnership,” Martin Larsen, CFO of A.P. Moller Holding, said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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