Dry CargoEurope

Belships adds resale ultramax pair

Norwegian owner Belships has entered into letters of intent for the acquisition of two 61,000 dwt ultramax vessels

The vessels are currently under construction at a Chinese yard and are expected to be delivered during August and September.

The vessels will be financed through 10-year bareboat charters. The estimated cash breakeven for the vessels upon delivery is about $10,700 per day including operational expenses, and Belships will pay $2.6m per vessel upon contract signing which is scheduled by the end of first quarter of this year.

The agreements come with purchase options that can be exercised after the fourth year until the end of the charters.

Following completion of the deal, Belships’ fleet will have 23 bulk carriers, with an average age of five years.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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