The new loan, to be made available over two tranches, will see $110m go to replacing Belships existing loan and strengthen the group’s working capital and $30m for fleet expansion.
Belships currently owns 12 supramax and ultramax dry bulk carriers. The group also operates three ultramax on time and bareboat charter with purchase options. An ultramax newbuilding to be delivered next year will bring the fleet to a total of 16 ships.
“Belships is actively pursuing an expansion strategy and expects to acquire additional supramax and/or ultramax vessels going forward,” Belships said.