Purchase of resale contracts

Ugland Shipping AS has recently signed a resale contract with Sanoyas Shipbuilding Co., Japan for a 60 500 tdw bulk carrier for delivery in 2020.

The vessel will be a sister vessel to Olita and Belita, delivered from Sanoyas Shipbuilding Co. earlier this year.

Furthermore, Ugland Shipping AS has also signed a resale contract with Tsuneishi, Cebu for a TESS-64 type bulk carrier, for delivery in the second half of 2019.

With these two resale contracts, and the newbuilding from Imabari Shipbuilding due to be delivered in the beginning of 2019, we now have three bulker newbuildings to be delivered in the period 2019-2020.

Ugland Marine Services AS will be in charge of all management functions for the new vessels.  

The contracts are part of our fleet renewal, as we plan to sell one or more of our oldest bulk vessels before we take delivery of the newbuildings.

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