Belships ASA : Sale and leaseback for M/S Belisland

Belships ASA is pleased to announce that the company has entered into a sale and
lease back agreement with a Japanese counterpart for M/S Belisland.

M/S Belisland, 61 000 dwt Ultramax bulk carrier, is currently under construction
at Imabari Shipbuilding in Japan and will be delivered around 15 March 2016. The
ship will at time of delivery be sold and leased back for a period of 15 years
with purchase options from year 5 onwards. The transaction is considered as a
financial lease and will not have any material impact on the financial figures.
Compared to alternative loan financing offer published in earlier reports, the
transaction will improve Belships cash balance with about USD 6 - 8 million,
depending on market value at time of delivery.



This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#1986402]