Dry bulk carrier Belships is moving forward with its fleet renewal.

The Norwegian shipping company has exercised a purchase option on the vessel Belmar, which it has leased since it was delivered in 2021. At the same time, Belships has agreed to purchase a 64,000 dwt ultramax vessel for USD 41m, according to a statement to the Oslo Stock Exchange.

In addition to the two vessels already on the water, Belships has also expanded its newbuild program with two additional ultramax dry bulk carriers, which are expected to be delivered from the shipyard in 2027 and 2028 on lease contracts.

Belships thus has 12 new vessels on the way from Japanese yards in the years 2024 to 2028, all of which are fully financed on lease contracts and come with purchase options, the company writes in the announcement.

”These acquisitions add to a pipeline of growth, increasing our company’s fleet and earnings potential by a third over the next few years,” says CEO Lars Christian Skarsgård about the new ships.

”Access to the highest-quality vessels and shipyards combined with financing is our competitive advantage, and we firmly believe this will continue to create value for our company and shareholders.”

(English edit by Kristoffer Grønbæk)