Belships agrees to acquire three Ultramax newbuilds


Norweigan shipowner, Belships, has entered into agreements for the acquisition of three new Ultramax bulk carriers which are being constructed at Japanese shipyards.

Belships reports that the new Japanese-designed Ultramax bulk carriers represent the highest quality and lowest fuel consumption available in the market today.

Belships expect the 64,000 deadweight tonnage vessels to be delivered in Q42024, Q42025, and Q12026.

The vessels are fully financed through time charter lease agreements for a period of between seven to 10 years, with purchase options at current market levels during the charter.

According to Belships, cash breakeven for the vessels upon delivery will be about $14,000 per day

Belships will be taking over new vessels whilst the orderbook and supply side approaches the lowest levels seen in 30 years.

READ: Yangzijiang Shipbuilding wins 16,000 TEU LNG boxship contracts

“We are able to increase our fleet without investing any cash, this will therefore not affect our dividend capacity in the near future,” said Belships CEO, Lars Christian Skarsgård.

“We also believe the best way for us to approach the green shift is to acquire the most efficient vessels available and pair it with a financing structure which gives us a bridge to the future with optionality and flexibility.”

READ: NYK signs energy-saving deal for dry bulk carriers 

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