Belships has confirmed the sale of two of its oldest ships as it looks to take advantage of strong S&P markets to modernise its fleet.
The Oslo-listed shipowner has sold the 58,000-dwt Belstar (built 2009) and the Belnor (built 2010), it said in a regulatory filing.
Belships said delivery of the ships to their new owners is expected to take place by early 2022 and will generate a total gain of about $11m.
Total net cash flow after delivery of the vessels will be approximately $24.5m after repayment of outstanding loans, the shipowner added.
The sales will leave the shipowner with a fleet of 28 bulkers consisting of 25 ultramaxes and three supramaxes of just under 1.85m-dwt.
Supramaxes have been the third most popular class of bulker in the secondhand market so far this year, according to Allied Shipbroking.
An estimated 221 supramaxes, with an average age of 12 years, have changed hands so far this year in deals worth a total of $2.75bn.
The top selling bulker segment is panamaxes with 266 vessels worth $4.9bn sold, closely followed by handysize vessels with 229 ships worth $2.7bn traded, figures from the Greek shipbroker show.
Belships also announced that it has entered into agreement for a period time charter contract for one of its vessels for a period of about 11 to 13 months at a gross rate of $25 000 per day.
The contract is expected to start before the end of the year and will lift Belships' contract coverage for 2022 to about 50% at an average rate of $23 000 net per day per vessel.
In late November, Belships has fixed three of its ultramaxes on period charters of around one year at gross daily rates of $22,500, $24,700 and $25,000 per vessel.
"These transactions solidify Belships' position, with a strong balance sheet and the most modern fleet within our segment," said chief executive Lars Christian Skarsgard.
"We will continue the strategic approach to develop our company, with the aim of maximising returns for our shareholders."
