Belships — Capital/Financing Update 2015

Jul 13, 2015

Belships ASA : Timecharter agreement concluded for Belforest

Belships ASA : Timecharter agreement concluded for Belforest

Belships' 61,000 dwt eco newbuilding "Belforest" will be delivered from Imabari

Shipbuilding on/around 25th September.

Cargill, Geneva, will charter the vessel for 10-14 months, which will generate

an EBITDA of USD 1.15 million over the average period.

The sister vessel "Belisland" to be delivered from Imabari around 15th March

2016, will be chartered to Canpotex for 5 years.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1937734]