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Provider: Reuters Investment Profile
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Belships ASA Signs Two Newbuilding Contracts; Seeks Share Issue of NOK 90 Million-Reuters


Wednesday, 5 Jun 2013 08:00pm EDT 

Reuters reported that Belships ASA has signed two newbuilding contracts for fuel efficient and low emission supramax bulk carriers from Imabari Shipbuilding Co. Ltd. The vessels will be delivered during the second half of 2015 and first half of 2016. Financial details were not disclosed. Reuters also reported that the Company's Board intends to propose a share issue of NOK 90 million. Share issue will be fully guaranteed by Sonata AS. In case of insufficient support for this share issue, Sonata AS will offer Belships ASA a loan of NOK 90 million on commercial terms. ABG Sundal Collier has been engaged as financial advisor. The issue is subject to Extraordinary General Meeting’s (EGM’s) approval. EGM is to be held on June 27, 2013. 

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29 Aug 2014