Belships To Acquire 61,000 dwt Ultramax Duos

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Belships has entered into letters of intent for the acquisition of two 61,000 dwt ultramax vessels, says a press release published on their website.

About the vessels

The vessels are currently under construction at a Chinese yard and are expected to be delivered during August and September.

The vessels will be financed through 10-year bareboat charters. The estimated cash breakeven for the vessels upon delivery is about $10,700 per day including operational expenses, and Belships will pay $2.6m per vessel upon contract signing which is scheduled by the end of first quarter of this year.

What is in the agreement?

The agreements come with purchase options that can be exercised after the fourth year until the end of the charters.

Following completion of the deal, Belships’ fleet will have 23 bulk carriers, with an average age of five years.

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Source: Belships

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