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Ship sales weigh down Røkke's Ocean Yield in fourth quarter

A sale of a construction and cable laying vessel was costly for Kjell Inge Røkke's Ocean Yield in the fourth quarter. The sale contributes to a full-year deficit for the shipowner.

Photo: PR/Aker

Ocean Yield, owned by Norwegian oil tycoon Kjell Inge Røkke, finished 2020 with a deficit of USD 51.7 million after taxes in fourth quarter 2020, shows the shipowning company's interim report.

This deficit is especially attributed to the sale of a construction and cable laying vessel in November. Here Ocean Yield booked a loss of USD 70.7 million.

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