Belships

Regulatory Filings • Jun 15, 2022

Belships ASA: Period charter contracts

Belships ASA: Period charter contracts

Belships has entered into agreements to charter out four vessels for about 2

years period at an average gross rate of about USD 22 000 per day per vessel.

Two of the contracts will commence within Q2 2022, and the remaining two will

commence during Q3 2022.

For the next four quarters from Q3 2022 onwards, contract coverage now stands at

70 per cent at a gross rate of about USD 23 600 per day per vessel. For 2023

contract coverage stands at 45 per cent at a gross rate of about USD 23 000 per

day per vessel.

Based on our contract coverage and current market expectations, we expect to

generate significant free cash flow and aim to pay quarterly dividends as

announced with our dividend policy.

Belships ASA is a fully integrated owner and operator of geared bulk carriers.

The owned fleet consists of 29 Supra/Ultramax bulk carriers with an average age

of about 3.5 years and daily cash breakeven for 2022 of about USD 10 000 per

vessel. Lighthouse Navigation, a subsidiary of Belships, is a dry bulk operator

with offices in Oslo, Bangkok, Singapore and Melbourne.

For further information, please contact Lars Christian Skarsgård, Belships CEO,

phone +47 977 68 061 or e-mail LCS@belships.no

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act