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Belships snaps up ultramax bulker resale

Belships’ fleet expansion continues with the acquisition of an ultramax newbuilding resale currently under construction in Japan. The 64,000 dwt bulker will deliver in January 2023 and take Belships’ fleet to 30 ships.

The Norwegian owner has not revealed any further details, except that it plans to finance the vessel through a ten-year fixed-rate bareboat charter with a purchase option. The deal is conditional upon certain steps expected to be completed within Q4 2021. The cash breakeven for the vessel is about $11,500 per day, including operational expenses.

The move marks Belships’ second acquisition of this month after snapping up the 2016-built supramax pair for $56m. The cash breakeven for each vessel upon delivery, expected in November this year, is about $9,000 per day.

In addition, the Oslo-listed firm announced a period time charter contract for one of its ultramaxes for about 22-24 months at $26,250 per day. The contract is expected to commence by the end of this month.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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