Norwegian ultramax bulker specialist Belships has been linked to the sale of four of its ageing ships.
Multiple brokers report the Oslo-based outfit, controlled by EnTrust Global vehicle Blue Northern, has offloaded Belinda, Belatlantic, Belsouth and Belmont, all Jiangsu Hantong-built sister ships delivered between late 2015 and mid-2016.
The en-bloc deal is estimated to be worth around $84m. Market players point to a Singapore-based buyer, with Stamford Shipping — owner and asset manager of two ultramaxes and four product tankers — being cited by some sources as the purchaser.
Belships operates a fleet of 42 ships on a fully delivered basis, with an average fleet age of around four years. The company has more than 10 ultramax newbuildings due for delivery in the coming years, financed through long-term time charter lease arrangements, typically running seven to 10 years, and include purchase options.
The four vessels reported sold are the oldest in Belships’ owned portfolio and their exit would further reduce the average age of the fleet. The company has yet to confirm the deal.
