Belships has a uniform and modern fleet of bulk carriers well positioned to capitalise on a strong dry bulk market. Following completion of all announced transactions, the Belships fleet will count 27 Supramax/Ultramax bulk carriers, with an average age below four years and average cash breakeven of US$ 10 500 per day. The contract coverage for 2022 stands at 54% at an average rate of US$ 23 000 net per day per vessel meaning that the cash breakeven for remaining open vessel days is below zero. Based on current market expectations, we expect to generate significant free cash flow and continue to pay quarterly dividends in accordance with our dividend policy.
