Two Ultramax Newbuilds to Join Belships Fleet

Norway’s shipping company Belships ASA has agreed seven-year bareboat charters for two 61,000 dwt Ultramax bulk carrier newbuilds.

As informed, the vessels will be delivered by a Japanese shipyard during the fourth quarter of 2019 and the first quarter of 2020.

The estimated cash breakeven for the bulkers upon delivery is about USD 11,000 per day including operational expenses, Belships said.

Belships will pay a sum of USD 3 million per ship prior to delivery. The agreements come with purchase options below current market values and can be exercised as from the fourth year until the end of the charter, the company added.

“We are very pleased to continue the growth and fleet renewal of the company with two vessels of the highest quality being delivered straight into a strong market,” Lars Christian Skarsgård, Belships CEO, commented.

Following the transactions, the Belships fleet will count 22 Supramax/Ultramax bulk carriers, including the four newbuildings.