Belships Grabs Ultramax Bulker Resale

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  • belships snaps up Ultramax bulker resale
  • fleet expansion continues with the acquisition of an Ultramax newbuilding resale currently under construction in Japan
  • it plans to finance the vessel through a ten-year fixed-rate bareboat charter with a purchase option
  • the move marks Belships’ second acquisition of this month after snapping up the 2016-built supramax pair for $56m

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 says an article on Splash247.

10-year fixed-rate bareboat charter

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.

Second acquisition of this month

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.

Announces time charter contract

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.

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Source: Splash247

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