Belships owner eyes selling up

Kontrari and Kontrazi, investment vehicles controlled by Frode Teigen, the largest shareholder of Belships, have revealed they are looking at selling their position in the Norwegian dry bulk owner.

Teigen has hired Fearnley Securities to evaluate “potential strategic alternatives”, according to a release. 

Teigen owns 53.9% of the shares in the Oslo-listed company he took control of six years ago. 

Belships is one of Norway’s largest dry bulk owners, its fleet today made up of 42 ultramax bulk carriers with an average age of about three years.