Skip to main content

Belships acquires Prospero Marine supramax bulk carrier

Published by
Dry Bulk,


Belships ASA has agreed to acquire the 55 866 DWT bulk carrier M/V Sephora from Prospero Marine Ltd, a company controlled by Greek shipowner Elias Kulukundis. The vessel was built by Kawasaki Heavy Industries (Japan) in 2007.

The agreed purchase price for MV Sephora is US$12 million, of which half will be paid in cash. The remaining consideration will be settled through a proposed issue of 7 405 114 new Belships shares to the seller of the vessel. The agreed share price in the transaction is NOK 7.00 per share. 

 

Belships expects the cash payment to be fully financed within the previously announced financing package (see stock exchange release 14 March, 2019). Hence, the vessel purchase is not expected to significantly influence the Group's cash holdings.  

The transaction is Belships' third acquisition in less than a month. The Group expects to take delivery of M/V Sephora in July 2019. Following the transaction, the Belships fleet will count 19 supramax/ultramax bulk carriers, including a newbuilding being delivered from Imabari Shipbuilding, Japan in the first half of 2020. 

Belships strategy going forward is to grow accretively as a fully integrated shipowner and operator of geared bulk carriers. The recent acquisitions and proposed share issue will, in accordance with the Group's shareholder strategy, expand Belships' shareholder base and improve share liquidity. 

 

Read the article online at: https://www.drybulkmagazine.com/shipping/01052019/belships-acquires-prospero-marine-supramax-bulk-carrier/

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):