Belships offloads oldest vessel as part of fleet renewal

Norwegian shipowner Belships has sold its oldest Supramax bulk carrier Belfri to Chinese bulker operator Jinhui Shipping and Transportation.

As disclosed, the 55,000 dwt bulk carrier, which was built in 2007, was sold for $15.18 million.

According to the agreement, the vessel should be delivered at the end of Q3 2021 and Belships will realise a gain of approximately $4.6m. 

Net cash flow upon delivery will be approximately $9m after repayment of outstanding loans, the company claims.

Furthermore, Belships has sold one more vessel, the 63,000 DWT Belisland, to an undisclosed buyer.

“Belships will take delivery of seven vessel acquisitions during the next few months to expand our fleet of modern ultramax bulk carriers. We will continue to take an opportunistic approach to develop our fleet, with the aim of maximising returns for our shareholders,” said Belships CEO Lars Christian Skarsgård.

Belships fleet will count 26 Supramax/Ultramax bulkers, after completion of all transactions.