Belships has entered into agreements to sell and lease back BELLIGHT and BELFOREST on bareboat charters for 10 and 11.5 years, respectively, says a press release published in GlobeNewswire.
Agreement
The agreements come with options to repurchase the vessels at below current market levels. There are no purchase obligations at the end of the agreements. The lease agreements have fixed interest rates for the entire period with an average cost of capital of about 4.4 percent.
The net cash effect upon delivery will be about USD 14.0 million in total. Delivery into the new bareboat agreements is expected within Q1 2022. These agreements signal the competitive advantage Belships has in sourcing ship finance.
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Source: GlobeNewswire
