Belships ASA has reached an agreement with Imabari Shipbuilding to buy third 61,000 dwt bulk carrier.

The company will from now on concentrate 100% on the dry bulk market. In accordance with this shift in strategy M/T Belaia will be redelivered to owners at expiry of current c/p to Lauritzen Tankers around March 2014.

Belships ASA are closely related to Imabari Shipbuilding and will in return replace the redelivered ship with a new eco-design Supramax bulker for delivery Q1 2017.

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.

Purchase option 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.

Press Release, January 20, 2014