Belships is optimistic despite red numbers in 2020

Norwegian Belships is in the red after the Covid-19-plagued year 2020. However, a record-low orderbook and increasing demand lay the foundation for a strong market in the coming year, according to the annual report.

Photo: Belships

Belships is looking forward to a fundamentally strong dry bulk market after 2020, marked by the Covid-19 pandemic, sent the Norwegian carrier into the red.

The dry bulk carrier came out of 2020 with a total deficit of USD 17.7 million, a significant decline from a profit of USD 5.1 million in 2019, shows the annual report Thursday.

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