Belship Secures Charter Deals for Two Bulk Carriers

Olso-listed bulk carrier operator Belships said Friday it had secured charters for two of its vessels.

Belships said the period time charter contracts secured were for a period of about 23-25 months at a gross rate of USD 25 500 per day per vessel. 

The contracts are expected to start from the beginning of November 2021.

The company, which will have a fleet of 30 Supramax/Ultramax bulk carriers with an average age of 4 years, once all announced transactions are completed, did not say who the client was for the two vessels, nor which vessels exactly had secured the charters.

Last week, Belships agreed to acquire a 64 000 dwt Ultramax newbuilding resale currently under construction at a Japanese shipyard.
Delivery is expected to be January 2023. 

"The intention is to finance the vessel on similar terms as previously acquired newbuilding resales, which implies a fixed-rate bareboat charter of around 10 years with purchase options. The estimated cash breakeven upon delivery is expected to be about USD 11 500 per
day including operational expenses," Belships said announcing the deal.

"Belships is taking over an existing contract for a vessel already under construction whilst the orderbook and supply-side approaches the lowest levels seen in 30 years. Belships' fleet continues to increase and improve with only modest cash investments. Japanese-design Ultramax bulk carriers entering the fleet represent the highest quality and lowest fuel consumption available in the market today," the company said at the time.