Belships ASA announced their intentions today to exit the product tanker market and concentrate exclusively on the dry bulk sector upon the expiration of the current charter of the M/T Belaia.
The Belaia will be redelivered to owners at expiry of current charter to Lauritzen Tankers around March 2014. Belships notes these owners are closely related to Imabari Shipbuilding and will in return replace the redelivered ship with a new 61,000 dwt Supramax bulk carrier with a delivery planned for Q1 2017. The ship will be placed on long term lease and include purchase options.
The terms for this new lease agreement will be very close to the terms for the redelivered ship, except that the lease period will be for minimum 8 years plus 3 yearly options.
Belships notes the option to purchase the vessel can be declared from end of year 4 onwards, starting at JPY 2.91 billion and decreasing annually by JPY 110 million. Through this new lease agreement Belships ASA will have three identical Supramax bulk carriers with eco-design from Imabari for delivery between Q4 2015 and Q1 2017.
To support the three bulk carriers that Belships already has in service, the company also notes that long term financing has just been secured consisting of a new 6-year loan facility of USD 50 million.
By Malte Humpert (gCaptain) – Just days after securing funding in the FY 2025 budget to acquire a commercial icebreaker, the U.S. Coast Guard says it has made little headway...
Chevron Marine Lubricants held the first technical seminar for 2024 on 7 March in Istanbul, Turkey. The event was held in collaboration with Petrol Ofisi Group. The seminar focused on the future...
SYDNEY, March 21 (Reuters) – Fiji will strike a deal with Australia to upgrade ports and shipbuilding infrastructure, months after its prime minister said it was likely to partner with China on the...
March 21, 2024
Total Views: 750
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.