Cargill extends charter of Belships ultramax

Cargill extends charter of Belships ultramax

Norwegian dry bulk owner Belships says that commodity giant Cargill has extended the charter of 2015-built ultramax Belforest for a period of 11-13 months.

The new charter, which commences October 3, will generate around $2m over the life of the contract indicating a significantly higher rate than the original charter.

The Imabari-built Belforest has been on charter to Cargill since it was delivered in September 2015. Around the same time, Belships wrapped up a sale and leaseback deal for the vessel with a Japanese counterparty. The 12-year deal gives Belships purchase options after the third year.

Belships also has 2011-built supramax Belocean on charter to Cargill at an average net rate of $3,750 per day.

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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