Belships ASA has entered into agreements for the sale of Belfriend and Beltide, a pair of supramax bulk carriers built in 2016, for a price of US$28.3 million per vessel.
Delivery is expected to occur within the 3Q24 and the company will see a gain of approximately US$3 million per vessel. Both vessels are free of debt, therefore total cash proceeds to the company will be US$56.6 million.
“Belships acquired these two vessels in 2021 and the investment has yielded a return on equity of more than 100%, displaying our ability to source accretive transactions and efficient use of capital. The extraordinary return is mainly due to prudent contract coverage ensuring higher earnings compared to the spot market,” said Lars Christian Skarsgård, CEO of Belships ASA.
Including 10 newbuildings to be delivered between 2024 – 2028, the Belships fleet will count 38x vessels, and consist purely of ultramax bulk carriers.
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