The company performs management services for a subsidiary and receives a fee for this. The fee
amounted to 4 976 (4 773) in 2017.
The company receives a commission for acting as guarantor for mortgage debt in the subsidiary Belships
Supramax Singapore Pte Ltd. The fee amounted to 7 061 (9 491) in 2017. See note 9 for further details.
All intercompany transactions have been conducted to market terms.
Sonata AS, the main shareholder in Belships ASA, issued in December 2015 an on-demand guarantee amounting to USD 5 million to the lender of the Group’s mortgage debt. The guarantee carried a commission of 5% which amounted to 1 978 (2 103) in 2017. The guarantee was returned in December 2017. Except for this, it has not been issued loans or provided security to or from shareholders or related parties.
Members of the management have loans from the company. These amounts to 419 (550) per 31 December 2017.