Norwegian shipowner Belships has fixed another two of its ultramax bulkers out on long-term charter. On Friday, the Oslo-listed company said the two unnamed vessels will start contracts of 23 to 25 months at a gross rate of $25,500 per day at the start of next month. A bulker market source said the pair are the Hantong-built 63,300-dwt Belpareil and Belsouth (both built 2015).

Chief executive Lars Christian Skarsgard told TradeWinds that the company has a third of its fleet covered for next year, with the remainder open for business. “So, we are there to fix further vessels for period charter,” he said. “This is not just risk management. We like to have contracts with strong chartering companies. It’s good to create long-term relationships.”

Meanwhile, Skarsgard said there are other reasons to feel optimistic about the supramax and ultramax segment, in which Belships specializes. “I do not know where the spot market will go, but I’m pretty sure ship values should continue to increase,” he said.

The shipowner last week fixed its 63,000-dwt ultramax Belhaven (built 2017) to an unnamed charterer for 22 to 24 months at a gross rate of $26,250 per day, starting this month. By way of comparison, average supramax spot rates were assessed on Friday at $39,860 per day, according to Baltic Exchange data.

Belships has continued to be active in the sale-and-purchase market this month, buying two secondhand vessels and circulating an elderly supramax for sale.

Once all its acquisitions have been delivered, Belships said its fleet will be made up of 30 supramax and ultramax bulkers, with an average age of four years and average daily cash breakeven of about $10,500.