Belships Sells Its Oldest Bulk Carrier

Dry bulk shipping company Belships ASA said it has entered into an agreement to sell of the oldest vessel in its fleet

The 2007-built 55,000 dwt bulk carrier Belfri is expected to be delivered to its new owner at the end of the third quarter of 2021.

Belships said it will realize a gain of approximately $4.6 million, and net cash flow upon delivery will be approximately $9 million after repayment of outstanding loans.

Belships CEO Lars Christian Skarsgård, said, “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 maximizing returns for our shareholders.”