Belships ASA (OSE:BEL) has sold its 50% ownership in Elkem Chartering. Elkem Chartering handles handysize and supramax dry bulk (mainly semi-finished products and raw materials) and operates in between 10-15 ships (does not own any). The sales price is 7 425 000 USD and will results in a 29 million NOK gain for Q2, raising the quarterly result near zero debending on Elkem’s Q2 result.
The company has blamed reduction on operating income as of late on lower activity in Elkem Chartering’s handysize operations. Elkem’s portion of the company's consolidated sales has been above 50%. The shares are sold at book value to Elkem Chartering Holding AS.
This leaves Belships business area Dry cargo with its three fully owned dry bulk carriers. Belships also has business areas Tank for refined petroleum and vegetable oil transportation and Ship Management for technical operation activities.
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