Belships Secures Ultramax Time Charter Contracts

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Norwegian owner Belships secured time charter contracts for four of its Ultramax bulkers, adding value to the company’s long-term earnings expectations, says a press release published on their website.

About time charter contract 

The Oslo-listed firm has fixed three of its vessels for 22-25 months at a gross rate of between $22,000 and $24,000 per day, scheduled to commence from end-June to mid-July this year.

One vessel has a time charter for about one year at $27,000 per day and should start its contract in mid-August 2021.

“We have secured contract revenue with reputable counterparts at highly profitable levels which supports our recently announced dividend policy. These contracts also signal the significant earnings prospects for next year,” said Belships CEO, Lars Christian Skarsgård.

Belships fleet

Belships expects five new buildings to be delivered by the third quarter of this year. Following deliveries, the Belships fleet will count 27 Supramax/Ultramax bulkers.

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Source: Belships

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