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Jinhui takes oldest Belships bulker

Norwegian owner Belships has sold its oldest supramax bulk carrier Belfri to Chinese bulker operator Jinhui Shipping and Transportation for $15.18m.

The 2007-built 55,000 dwt vessel should be delivered between September 15, 2021, and October 20, 2021.

Oslo-listed Belships will realise a gain of around $4.6m. Net cash flow upon delivery will be approximately $9m after repayment of outstanding loans.

“Belships will take delivery of seven vessel acquisitions during the next few months to expand our fleet of modern ultramax bulk carriers. We will continue to take an opportunistic approach to develop our fleet, with the aim of maximising returns for our shareholders,” said Belships CEO Lars Christian Skarsgård.

Belships fleet will count 26 supramax/ultramax bulkers, after completion of all outstanding transactions.

Jinhui currently owns 20 dry bulk vessels which include two post-panamaxes and 18 supramaxes. In May, it snapped up the 2004-built supramax from Tai Shing Maritime for $10.8m.

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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