Belships ASA has entered into agreement for period time charter contracts for four of our modern Ultramaxes

Belships ASA (OSE: BELCO) has entered into agreement for period time charter contracts for four of our modern Ultramaxes.

• a period time charter for about 2 years (22-25 months) at a gross rate of USD 24 000 per day. The contract is expected to commence end June 2021.
  
  
• a period time charter for about 2 years (21-24 months) at a gross rate of USD 23 000 per day. The contract is expected to commence mid July 2021.
  
  
• a period time charter for about 2 years (22-25 months) at a gross rate of USD 22 000 per day. The contract is expected to commence mid July 2021.
  
  
• a period time charter for about 1 year (11-14 months) at a gross rate of USD 27 000 per day. The contract is expected to commence mid August 2021.

"We have secured contract revenue with reputable couterparts at highly profitable levels which supports our recently announced dividend policy. These contracts also signal the significant earnings prospects for next year," said Belships CEO, Lars Christian Skarsgård.

Belships has a uniform and modern fleet well positioned to capitalise on a strong dry bulk market. Five newbuildings are expected to be delivered within Q3 2021, all of which have finance arranged. Following completion of all announced transactions, the Belships fleet will count 27 bulk carriers, with an average age of 5 years and average cash breakeven of about USD 10 500 per day. Our strategy is to develop Belships as an owner and operator of Ultramax bulk carriers, through quality of operations and with the purpose of creating and maximising shareholder value.

For further information, please contact Lars Christian Skarsgård, Belships CEO, phone +47 977 68 061 or e-mail LCS@belships.no

This stock exchange announcement was published by Edwin Johansen, Accounting Manager in Belships ASA on 29 June 2021 at 07:00 CET.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.