Belships Orders Pair of Supramax Bulk Carriers from Japanese Yard

Oslo-based shipping firm Belships ASA has placed an order for two fuel efficient Supramax bulk carriers from Imabari Shipbuilding Co. Ltd.

The design provided by the shipyard represents the future Eco-design Supramax bulk carriers with the latest technology available both in terms of fuel efficiency and low emissions. The vessels will be delivered during the second half of 2015 and first half of 2016.

To fund this acquisition, Belships’ board of directors plans to propose a NOK 90 million share issue at their next extraordinary general meeting on June 27.  This share issue will be fully guaranteed by Sonata AS. ABG Sundal Collier has been engaged as financial advisor. In case of insufficient support for this share issue, Sonata AS will offer Belships ASA a loan of NOK 90 million on commercial terms.

Belships’ three 58k dwt supramax vessels are currently sailing on 10-year charters for Canadian Potash exporter Canpotex. These charters extend out to 2019 and beyond.