On 15 February 2018, Louis Dreyfus Armateurs (LDA) agreed with Ocean Yield, a Norwegian investment firm which specialises in shipping, on the sale and leaseback of two bulk carriers.

Ince & Co France's finance team advised LDA on the negotiation of this transaction, including the sale contracts for the vessels, as well as their chartering to two subsidiaries of LDA group.

This transaction amounts to approximately $ 18m per vessel and the delivery of the two bulk carriers is scheduled for March 2018. These two vessels will be chartered by the LDA group for a period of 12 years; they will operate under Hong Kong flag.

The deal includes a purchase obligation of the vessels at the end of the charter period, as well as an early option to purchase after 5 years.

Aymeric de Tapol, partner in charge of the ship finance team at Ince & Co France, commented:

"We are very pleased to continue our long-standing collaboration with LDA with this new transaction involving the sale and leaseback of two vessels. Ince & Co (Paris, Hong Kong and Shanghai) and LDA teams worked closely together to finalise the operation within a very short time, demonstrating LDA’s reactivity in setting up such financing scheme, and our firm's responsiveness and expertise in the field of shipping finance alongside a leading shipowner."

The Ince & Co France team was composed of partner Aymeric de Tapol and associate Audran de Carné. Hong Kong and Shanghai teams were also involved in the transaction.

Ocean Yield was advised by the Norwegian law firm Schjødt.