Belships ASA : Sale and leaseback

Belships ASA is pleased to announce that the company has entered into a sale and lease back agreement with a Japanese counterpart for M/S Belforest.
M/S Belforest, 61,000 dwt Ultramax bulk carrier is currently under construction at Imabari Shipbuilding in Japan and will be delivered around 25 September 2015. The ship will at time of delivery be sold and leased back for a period of 12 years with purchase options from year 3 onwards. The transaction is considered as a financial lease and will not have any material impact on the financial figures. Compared to alternative loan financing offer published in the report for 2nd quarter, the transaction will improve Belships cash balance with about USD 4 million at time of delivery.
Contacts for further information:
CEO Ulrich Müller – tel. +47 22527615

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.