Ocean Yield AS, the Oslo-listed and Norwegian based ship owning and maritime asset investment company, says it is investing in suezmax tanker with long-term charter.

The shipowner has agreed to buy a 2016-built suezmax ship with bareboat charter to NAT over eight years.

Specifically, Ocean Yield has made a deal to acquire the ship with an 8-year bareboat charter to Nordic American Tankers (NAT), with a purchase obligation at the end of the charter period.

A price has not been revealed.

Ocean Yield confirmed the deal is for a suezmax tanker, without naming it.

NAT is a leading crude tanker company listed on the New York Stock Exchange with a fleet of 20 Suezmax tankers.

Ocean Yield will take delivery of the tanker during the fourth quarter.

This is the third transaction between Ocean Yield and NAT since 2017.

This third deal reflects the strength of the long-term partnership between the two companies, in accordance with the chief executive of Ocean Yield, Andreas Røde.

“We have a long track-record of successfully growing with our partners, and we are pleased to continue to support NAT with its fleet growth and renewal,” he said.

It is expected the transaction to add about $80m to the company’s Ebitda backlog, Ocean Yield added.