“Strong. Steady. Solid.” Reading analysts’ notes about Belships quickly becomes repetitive, and so it proved again after the ultramax owner reported its third-quarter results on Thursday.
Perhaps analysts should also add “shrewd” to the list of S-words used to describe the Oslo-listed shipowner.
Freight earnings fell during the third quarter but Belships’ bottom line was lifted by gains from the sale of two older supramaxes earlier this year and the reorganisation of its operator business, Norwegian Bulk Carriers.
