Belships acquires Ultramax bulker newbuilding

Photo: Belships

Norway’s Belships has entered into a letter of intent for the acquisition of a new Ultramax bulk carrier currently under construction in China.

The 61,000DWT vessel is of Japanese design and is expected to be delivered upon completion of construction no later than November 2021.

The vessel will be financed through a seven-year bareboat charter.

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.

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