Belships ASA has entered into an agreement for the acquisition of an Ultramax bulk carrier built in 2015 by a Japanese shipyard in a cash transaction. Delivery of the vessel is expected within October 2021. The agreed purchase price is JPY 2.52 billion (about USD 22.9 million). The vessel is intended to be financed with bank financing for approximately 60% of the purchase price. The estimated cash breakeven for the vessel upon delivery is about USD 9,500 per day including operational expenses. The agreement is conditional upon certain steps to be completed by the parties involved. Conclusion is expected within June 2021.