Belships, the Norwegian bulk carrier shipping company led by Lars Christian Skarsgård, is expanding its newbuilding order book to bring its fleet size to 40 ships.
Belships has reportedly signed a contract with an unnamed Japanese shipyard for the construction of two 64,000 dwt bulk carriers, with the delivery in 2028.
Belships said the financing for the two new bulk carriers is also structured as time charter agreements, with each vessel having a charter period of 7 to 10 years, with an option to purchase during the charter period. Excluding the latest order, Belships previously owned 38 ships, eight of which are under construction at Japanese yards and are expected to be delivered between 2024 and 2027.
“These newbuildings represent growth prospects for the company packaged with financing which solves the predicament of very long lead times for new ships without jeopardising return on capital in the meantime. The acquisitions will also contribute to retaining a low and competitive cash break-even in the future as the fixed-cost structure for the newbuildings will blend with existing vessels with lower leverage or free of debt,” explained Belships chief executive Skarsgård.
