I am proud to present the annual report for Belships ASA, and to introduce you to a company with a long history, extensive experience, strong expertise and a promising future.
From its origin in 1918 and focus on specialized heavy lift ships, the company made a valuable contribution for the Allied forces during World War Two and during the Korean War. Later on the company also entered both the tanker- and the energy sector.
Today Belships ASA has developed into a pure dry bulk player with full concentration on one non-specialized asset type. The company has been listed on the Oslo Stock Exchange since 1937.
Our subsidiary, Belships Management (Singapore) Pte Ltd, has made its mark on one of the world’s most challenging industries for over 30 years – an industry where clients manage valuable assets and demand the highest level of expertise and ability from their partners. We focus without compromise on strict risk management to minimize the hazards to both people and the environment and we appreciate the demands and challenges made by our esteemed clients.
Belships ASA outlined in 2013 a bold newbuilding program for eco-design Supramax bulk carriers to be built by Imabari Shipbuilding Group in Japan. It was designed to transform the business area into a state-of-the-art dry bulk service provider with high focus on fuel efficiency and emission control. Delivery is scheduled for 3 x 61,000 dwt ships from Q4 2015 until Q1 2017, where two ships will be owned by Belships ASA and one ship will be owned by a sister company of the shipbuilder.
One Imabari newbuilding will upon delivery be servicing Canpotex for the remaining charter period of either M/S Belstar of M/S Belnor. The charter rate will for the balance period be increased to reflect the expected bunker saving on account of the charterer.
Our corporate strategy is to provide our reputable clients a reliable transportation solution based on long term charters and partnership. We will have focus on growth in portfolio size and to diversify our customer base through a careful selection of counterparts.
We are excited about our journey over the coming years.