Norwegian owner Belships has secured time charter contracts for four of its ultramax bulkers, adding value to the company’s long-term earnings expectations.

The Oslo-listed firm has fixed three of its vessels for 22-25 months at a gross rate of between $22,000 and $24,000 per day, scheduled to commence from end-June to mid-July this year. One vessel has a time charter for about one year at $27,000 per day and should start its contract in mid-August 2021.

“We have secured contract revenue with reputable couterparts at highly profitable levels which supports our recently announced dividend policy. These contracts also signal the significant earnings prospects for next year,” said Belships CEO, Lars Christian Skarsgård.

Belships expects five newbuildings to be delivered by the third quarter of this year. Following deliveries, the Belships fleet will count 27 supramax/ultramax bulkers.