Belships ASA has entered into agreements to charter out three of Ultramax vessels: 10-13 months period charter at a gross rate of USD 17,750 per day; 11-13 months period charter at a gross rate of USD 16,250 per day; 5-7 months period charter at a gross rate of USD 17,250 per day. Two contracts commenced in October and the third will commence in November 2022. For Fourth Quarter 2022, contract coverage now stands at 90% at a gross rate of about USD 22,900 per day per vessel.

For First Quarter 2023, contract coverage now stands at 70% at a gross rate of about USD 22,500 per day per vessel. For 2023 contract coverage stands at 50% at a gross rate of about USD 21,900 per day per vessel.