Belships to acquire two Ultramax bulkers

Photo: Belships

Belships has entered into two letters of intent (LOIs) for the acquisition of two Ultramax bulk carriers.

The first is a 64,000DWT vessel currently under construction at an unnamed Japanese shipyard and scheduled for delivery in the second half of 2020. Upon delivery, it will commence a 10-year bareboat charter, which will include purchase options below current market values and can be exercised after the fourth year until the end of the charter.

The second vessel is a secondhand Japanese-built bulk carrier which will be acquired for a price of US$24.5 million from an unnamed owner. Delivery is expected during the second quarter of 2020, after having passed its intermediate drydocking survey.

Both agreements are conditional upon certain subjects being lifted by the parties involved. Conclusion is expected within January 2020.

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