Belships expands fleet to 22 vessels

Belships expands fleet to 22 vessels

Norwegian dry bulk outfit Belships has added two ultramax bulkers to its fleet, having agreed seven-year bareboat charters for a pair of newbuildings.

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

Belships says it will pay $3m per vessel on delivery, and the pair will have an estimated cash breakeven of about $11,000 per day including operational expenses. The company has purchase options available, below current market rates, from the fourth year onwards until the end of the charter.

“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,” said Lars Christian Skarsgård, CEO of Belships.

On delivery of the vessels, Belships will have a fleet of 22 bulkers made up of supramaxes and ultramaxes.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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