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Belships reports growth in third quarter – forecasts sustained upturn

Belships exits the third quarter with a net result of USD 35.2 million. The Norwegian dry bulk operator expects the strong market to continue through the rest of the year although spot rates and long-term agreements have fallen since peak levels.

Photo: Belships

Belships continues to benefit from the strong dry bulk market, landing an operating result (EBITDA) in the third quarter of USD 57.1 million and a net result of USD 35.2 million.

This is markedly better than the same period last year when the Norwegian dry bulk operator suffered a net deficit, according to its quarterly report.

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