Belships secures period deal for bulker

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Belships has entered into agreement for a period time charter contract for a period of about 22-26 months at a gross rate of USD 23 750 per day. The contract is expected to commence within Q1 2022.

The total contract coverage for 2022 stands at about 70 per cent at an average rate of USD 23 000 net per day per vessel.

Belships has a modern fleet of 27 Supra/Ultramax bulk carriers with an average age of 3.7 years and daily cash breakeven for 2022 of about USD 10 000 per vessel. Based on current market expectations, we expect to generate significant free cash flow and aim to pay quarterly dividends as announced with our dividend policy. Additionally, an extraordinary dividend payment is planned for Q1 2022.