Belships Hires Ultramax Newbuild

Norwegian shipping company Belships has agreed a seven-year bareboat charter for a 61,000 dwt Ultramax bulk carrier newbuilding.

As informed, the vessel will be delivered by an unnamed Japanese shipyard during the first quarter of 2020.

“We are very pleased to continue the growth of the company with another Japanese Ultramax resale representing the highest quality and lowest fuel consumption in the market today,” Lars Christian Skarsgård, Belships CEO, commented.

The estimated cash breakeven for the bulker upon delivery is about USD 11,000 per day including operational expenses. Belships will pay a sum of USD 3 million prior to delivery, according to the company.

Belships added that the agreement comes with purchase options below current market values and can be exercised after the fourth year until the end of the charter.

Earlier this month, the company inked an agreement with Turkey’s Marti Shipping & Ship Management for a bareboat charter and a subsequent sale of Beleast, a 50,000 dwt Supramax. Under the deal, the 2006-built vessel will enter the bareboat charter during the fourth quarter of 2019 and Belships will realize a gain of around USD 4 million.

The unit is the oldest ship in Belships’ fleet of 22 Supramax and Ultramax vessels, including newbuildings.

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