Norwegian shipowner Ocean Yield has agreed to buy four 3,800 TEU container vessels with 12-year bareboat charters.

The company said that the purchase price for the quartet is USD120 million net of pre-paid charter-hire.

The boxships are expected to be delivered to Ocean Yield during the early part of third quarter 2018.

Built in 2014, the units are chartered to companies owned and guaranteed by Belgium's dry bulk transporter CMB NV. CMB will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after five years.

“We are pleased to increase our investments in container vessels with four modern carriers with long-term charters to CMB. The transaction further diversifies our client base and increases our charter backlog,” Lars Solbakken, Ocean Yield ASA's Chief Executive Officer, said.