Belships

Capital/Financing Update • Feb 18, 2016

Belships ASA : Timecharter concluded for M/S Belocean

Belships ASA : Timecharter concluded for M/S Belocean

M/S Belocean will end her charter with Canpotex around 25 February. The ship

will be replaced by the newbuilding M/S Belisland at a net rate of USD 17,300

per day with effect from time of delivery around 15 March until the expiry of

the remaining 5 year period.

Cargill, Geneva, will from end of February charter M/S Belocean for 10-15 months

at an average net rate of USD 3,750 per day.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1987151]