Belships to expand its fleet with 20th Ultramax newbuilding in 2021
Belships ASA (OSE: BEL) says it has agreed a 10 year bareboat charter for a 64,000 dwt Ultramax bulk carrier newbuilding. The vessel will be delivered by a Japanese shipyard during the second half of 2021.
The estimated cash breakeven for the Vessel upon delivery is about Usd 11,250 per day including operational expenses. The agreement comes with attractive purchase options which can be exercised as from the fourth year till the end of the charter.
"In addition to signalling the superior ship financing available to Belships, we see this transaction as an option to buy a vessel at todayâs market levels without deploying any of the of the companyâs cash until delivery," said Belships CEO, Lars Christian SkarsgÃ¥rd.
Following the transaction, the Belships fleet will count 20 Supramax/Ultramax bulk carriers, including a newbuilding being delivered from Imabari Shipbuilding, Japan in the first half of 2020. Belships strategy going forward is to grow accretively as a fully integrated shipowner and operator of geared bulk carriers.
Belships ASA founded in 1918 is a fully integrated shipowner and operator of geared bulk carriers. With offices based in Oslo, Bangkok and Singapore Belships provides shipping transportation services in a global market with customers and partners from all parts of the world.
