Belships

Belships ASA divests a Supramax

Belships ASA (OSE: BELCO) has entered into an agreement for the sale of BELFRI.

The 55,000 dwt bulk carrier was built in 2007, and is the oldest ship in

Belships' fleet.

Delivery is expected to occur at the end of Q3 2021 and Belships will realise a

gain of approximately USD 4.6m. Net cash flow upon delivery will be

approximately USD 9.0m after repayment of outstanding loans.

"Belships will take delivery of seven vessel acquisitions during the next few

months to expand our fleet of modern Ultramax bulk carriers. We will continue to

take an opportunistic approach to develop our fleet, with the aim of maximising

returns for our shareholders," said Belships CEO Lars Christian Skarsgård.

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

phone +47 977 68 061 or e-mail [email protected] (mailto:[email protected])

This stock exchange announcement was published by Edwin Johansen,

Accounting Manager in Belships ASA on 9 July 2021 at 16:45 CET.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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