Belships acquires Ultramax bulker under construction

Norwegian shipowner Belships has entered into a letter of intent for the acquisition of a 61,000DWT Ultramax bulk carrier currently under construction at an undisclosed yard in China.

The vessel is of Japanese design and will be delivered to Belships upon completion no later than November 2021.

Financing for the vessel will be through a seven-year bareboat charter. Belships will pay a sum of US$2.9 million upon signing of the contract before the end of April.

The agreement comes with purchase options below current market values and can be exercised after the third year until the end of the charter. There are no obligations to purchase the vessel.