We are pleased to announce that Seven Yield has exercised the early purchase option for Siem Confucius under her Japanese Operating Lease with Call Option (JOLCO) financing arrangement. The option enables us to acquire the vessel from the leasing structure established to finance her original delivery.

Delivered in 2020, Siem Confucius is an LNG dual-fuel PCTC with a carrying capacity of approximately 7,500 car equivalent units (CEU). Together with her sister vessel, Siem Aristotle, she was among the first deep-sea PCTCs to introduce LNG propulsion to international vehicle transportation.

At the same time, we have secured a new syndicated banking facility provided by DNB Bank ASA, SEB, Danske Bank A/S NUF and Crédit Agricole Corporate and Investment Bank. The facility supports the transition from the vessel’s existing lease financing to bank financing and our continued investment in the PCTC sector.

Completion of the corresponding purchase of Siem Aristotle under her JOLCO arrangement is expected in Q1 2027.