A.P. Moller Holding and KKR have signed an agreement under which a subsidiary of A.P. Moller Holding will acquire 100 per cent of Ocean Yield, a global ship leasing platform, from funds managed by KKR.
Ocean Yield, headquartered in Oslo, Norway, holds interests in more than 70 modern vessels spanning gas carriers, containerships, LNG carriers, crude, product and chemical tankers, and dry bulk carriers.
Under KKR’s ownership, the company has invested over $3 billion to expand its portfolio and diversify its customer base, nearly doubling its long-term contracted backlog to more than $5 billion.
The acquisition adds to A.P. Moller Group’s existing maritime portfolio, building on the Group’s long-standing presence across multiple shipping segments.
Martin Larsen, CFO of A.P. Moller Holding, said: “We are impressed by Ocean Yield’s performance and its management team. We believe that combining Ocean Yield’s compelling platform with our century-long experience in the maritime industry will create a strong partnership. In addition, we see Ocean Yield’s business model, with its stable cash flow, as an excellent complement to our existing maritime portfolio.”
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Andreas Røde, CEO of Ocean Yield, stated: “Since 2021, we have strengthened Ocean Yield as a globally diversified maritime leasing platform with long-duration, high-quality contracted cash flows and a modern fleet positioned for the energy transition. Under private ownership, we have been able to think and act long term as we have partnered with leading shipping companies and end users providing critical infrastructure assets to the maritime industry. We are therefore excited to start our next chapter of growth with A.P. Moller Holding.”
Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: “We are proud of the transformation Ocean Yield has delivered during our strategic partnership. Together with the management team, we have significantly scaled and diversified the platform, strengthened its long-term contracted revenue base, and supported its transition toward a more modern and sustainable fleet.
“Today, Ocean Yield is a larger, stronger and more resilient business, well positioned to continue supporting its customers and the wider maritime sector. We are proud of what has been achieved and believe A.P. Moller Holding is an excellent long-term owner for the company’s next chapter.”
KKR will remain a strategic partner to Ocean Yield through their joint investment in CapeOmega Gas Transportation AS.
For more information:
A.P. Moller Holding – A.P. Moller Holding
