The owner has a trio of bulkers due from Imabariin 2015, 2016 and 2017.

It said offers it had received to fund thevessels were turned down “due to expectation of favorable offers closer totime of delivery.”

Belships did, however, reveal that its threeoperational bulkers have been refinanced with a new $50m loan over six years onbetter terms than previously.

The bulkers are chartered out to Canpotexof Canada at $16,000 per day, “which is a favourable rate in the present market,”it said.

First-quarter