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Belships reports growth and expects profitable market two years ahead

Dry bulk carrier Belships advanced in the second half of 2022 and expects a stable market for its ships in 2023 and 2024. A small order book will strengthen demand, the company foresees.

Photo: Belships

Despite a marked drop in the dry cargo market in July, bulk shipping company Belships is confident about the year ahead, shows a half-year report indicating improvements.

The expectations stated in Belships’ interim report forecast spot rates for supra- and ultramax dry bulk vessels, of which Belships owns 31, to remain ”very profitable” in the second half of the year, and states that the carrier has covered 97% of its ship days in the third quarter at day rates of around USD 24,200.

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