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Belships seals seven-year charter for new ultramax bulker

Oslo-listed Belships has entered into a seven-year bareboat charter for a 61,000-dwt ultramax newbuilding being built at a Japanese shipyard.

The new bulk carrier will be delivered during the first quarter of 2020.

Belships shared that the estimated cash breakeven for the vessel upon delivery is about $11,000 per day including operational expenses.

Belships will pay a sum of $3m prior to delivery. The agreement comes with purchase options below current market values and can be exercised after the fourth year until the end of the charter.

“We are very pleased to continue the growth of the company with another Japanese ultramax resale representing the highest quality and lowest fuel consumption in the market today. Belships have a competitve advantage in terms of ship financing enhancing the returns for our shareholders,” said Lars Christian Skarsgård, ceo of Belships.

Read more: Belships buys secondhand supramax for $12m

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