Belships has signed a deal to acquire another ultramax bulk carrier that is currently under construction in Japan.
The Oslo-listed shipowner said it expects to take delivery of the 64,000-dwt bulker in the final quarter of 2025 or the first three months of 2026.
Belships said the vessel has been financed with a similar structure as the three ultramax resales it acquired in February, which were fully financed through time-charter lease agreements for a period of seven to 10 years.
“We are able to increase our fleet again without investing any cash, this will therefore not affect our dividend capacity,” said Lars Christian Skarsgard, Belships’ CEO.
The latest deal, which is subject to completion conditions, means Belships now has a total of four newbuildings under construction in Japan for delivery between 2024 and 2026.
All have been leased financed in the same way and come with purchase options “around current market levels” during the charter periods.
“New Japanese-design ultramax bulk carriers represent the highest quality and lowest fuel consumption available in the market today,” Belships said in a release on Thursday.
Cash breakeven for the vessels upon delivery will be around $14,000 per day.
The recent acquisitions will grow Belships’ owned fleet to 35 supramax and ultramax bulk carriers with an average of about four years.
