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日本海事新聞ニュース Japan Maritime Daily Aug 20, 2025 (Wed)

Belships seeks to differentiate itself with Japanese-built bulkers

Ivar Hansson Myklebust, Chairman and CEO of Belships

　The Norwegian dry bulk shipping company Belships, with a history of more than 100 years, was acquir ・・・続きはログインして下さいnext %E3%80%80The+Norwegian+dry+bulk+shipping+company+Belships%2C+with+a+history+of+more+than+100+years%2C+was+acquired+earlier+this+year+by+the+U.S.+alternative+asset+manager+EnTrust+Global.+We+asked+Ivar+Hansson+Myklebust%2C+who+became+the+chairman+and+CEO+%28Chief+Executive+Officer%29+of+Belships+from+EnTrust%E2%80%99s+Norwegian+subsidiary%2C+about+the+aims+behind+the+acquisition.+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+The+best+option+%3Cbr%3E%E3%80%80--What+was+EnTrust%E2%80%99s+aim+in+acquiring+Belships%3F+%3Cbr%3E%E3%80%80%E2%80%9CThe+reason+EnTrust+was+interested+in+Belships+is%2C+first%2C+that+among+dry+bulk+vessels%2C+the+60%2C000-dwt+Ultramax+bulker+segment+is+highly+liquid.+In+other+words%2C+it+means+that+buying+and+selling+vessels+is+easy.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CAnother+reason+for+the+acquisition+is+that+Belships+has+an+excellent+platform.+It+is+engaged+not+only+in+the+ship-owning+business+but+also+in+commercial+management.+In+addition+to+our+own+vessels%2C+we+also+undertake+the+operation+of+third-party+vessels.+We+can+generate+profits+not+only+from+trading+vessels+but+also+through+various+methods.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIt+was+also+attractive+that+the+fleet%E2%80%99s+average+age+is+very+young.+The+average+age+was+three+and+a+half+years%2C+and+most+of+the+vessels+were+high-quality%2C+Japanese-built+ships.+It+was+also+highly+valuable+that+it+had+talented+personnel+and+had+strong%2C+trust-based+relationships+with+Japanese+shipyards+and+shipowners.+When+considering+investment+in+the+dry+bulk+segment%2C+acquiring+Belships+was+the+best+option.%E2%80%9C+%3Cbr%3E%E3%80%80--Why+did+the+previous+owner+decide+to+let+go+of+Belships%3F+%3Cbr%3E%E3%80%80%E2%80%9CI+wouldn%E2%80%99t+know+unless+I+asked+him.+But+the+former+owner+also+runs+a+ferry+company+and+an+aquaculture+company.+He+may+have+wanted+to+direct+his+management+resources+to+businesses+other+than+dry+bulk+shipping.%E2%80%9C+%3Cbr%3E%E3%80%80--What+value+can+EnTrust%2C+the+new+owner+of+Belships%2C+bring%3F+%3Cbr%3E%E3%80%80%E2%80%9CThis+time%2C+not+only+EnTrust+but+also+the+German+shipowner+F.+Laeisz+%28headquartered+in+Hamburg%29+has+newly+become+an+owner.+The+shareholding+ratio+in+Belships+is+about+75%25+by+Entrust+and+about+25%25+by+F.+Laeisz.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CEnTrust+can+provide+expertise+in+areas+such+as+finance+and+market+analysis.+F.+Laeisz+has+a+history+of+more+than+200+years+and+has+strengths+in+technical+capabilities+such+as+ship+management.+We+aim+for+further+development+while+carrying+forward+Belships%E2%80%99+values+and+policies.+We+want+to+be+the+choice+of+major+dry+cargo+shippers.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Swift+decision-making+%3Cbr%3E%E3%80%80--You+went+from+a+listed+company+to+an+unlisted+company.+%3Cbr%3E%E3%80%80%E2%80%9CEach+has+its+own+advantages+and+disadvantages.+While+being+publicly+listed+makes+it+easier+to+raise+funds+for+growth%2C+it+also+requires+a+high+level+of+transparency+regarding+investment+details+and+strategies.+Stock+prices+rise+when+the+shipping+market+is+good%2C+but+they+fall+when+the+market+is+bad.+While+it+takes+time+to+handle+responsibilities+as+a+listed+company%2C+such+as+engaging+in+dialogue+with+investors%2C+it+can+provide+reassurance+to+business+partners+such+as+financial+institutions+and+charterers.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+advantage+of+an+unlisted+company+is+that+it+can+make+decisions+quickly.+The+company%2C+with+a+major+company+as+its+owner%2C+can+raise+funds+without+depending+on+the+share+price.+Investment+is+also+possible+if+the+owner%E2%80%99s+understanding+can+be+obtained.+We+share+financial+information+and+strategies+with+Japanese+shipyards+and+shipowners.+Unlisted+companies+have+a+high+degree+of+freedom%2C+but+they+also+need+transparency+to+earn+partners%E2%80%99+trust.%E2%80%9C+%3Cbr%3E%E3%80%80--How+will+the+relationship+with+Japanese+partners+change+as+a+result+of+the+acquisition+by+EnTrust%3F+%3Cbr%3E%E3%80%80%E2%80%9CJapanese+investors+also+invest+in+the+funds+managed+by+EnTrust.+Purus+Marine%2C+EnTrust%E2%80%99s+ship-owning+subsidiary%2C+has+a+network+in+the+Japanese+financial+industry.+F.+Laeisz+also+has+business+with+major+Japanese+shipping+companies.+I+myself+have+connections+with+Japanese+stakeholders.+We+intend+to+make+the+most+of+them+and+further+strengthen+our+relationships+with+Japanese+partners.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+42+bulkers+%3Cbr%3E%E3%80%80--I+would+like+to+hear+an+overview+of+Belships%E2%80%99+business.+%3Cbr%3E%E3%80%80%E2%80%9CWe+own+42+Ultramax+bulkers+of+61%2C000-64%2C000+dwt.+The+number+Includes+12+newbuilds+on+order.+Affiliated+company+Norwegian+Bulk+Carriers+handles+commercial+management.+We+operate+about+60+vessels%2C+combining+Belships%E2%80%99+owned+fleet+with+third-party+vessels.+The+service+provided+by+high-quality%2C+Japan-built+bulkers+is+widely+recognized+in+the+market.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9COf+the+12+ships+on+order%2C+11+will+be+built+by+Imabari+Shipbuilding+and+the+remaining+one+by+NACKS+%28Nantong+COSCO+KHI+Ship+Engineering%29%2C+with+delivery+by+2028.+Future+fleet+development+faces+difficult+investment+decisions+because+newbuilding+prices+remain+high.+Another+option+is+to+purchase+relatively+young+secondhand+vessels.+We+will+respond+flexibly+to+changes+in+the+market.%E2%80%9C+%3Cbr%3E%E3%80%80--How+will+you+proceed+with+environmental+initiatives%3F+%3Cbr%3E%E3%80%80%E2%80%9CIf+it%E2%80%99s+a+vessel+type+with+fixed+routes%E2%80%94like+large+container+ships%E2%80%94where+it%E2%80%99s+easier+to+develop+alternative-fuel+supply+infrastructure%2C+then+switching+to+LNG+%28liquefied+natural+gas%29+or+methanol+would+be+possible.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CUltramax+bulkers+call+at+ports+all+over+the+world.+It+will+take+a+considerable+amount+of+time+for+ports+around+the+world+to+be+equipped+to+supply+alternative+fuels.+Therefore%2C+Ultramax+bulkers+are+unlikely+to+be+in+the+first+wave+of+the+fuel+transition.+Japanese-built+ships+are+highly+energy+efficient.+In+this+segment%2C+superior+fuel+efficiency+is+valued.%E2%80%9C+%3Cbr%3E%3DEnd+%3Cbr%3E%E3%80%80%28This+series+was+written+by+Satoshi+Yamada%29+%3Cbr%3E+%3Cbr%3E%E3%80%80Ivar+Hansson+Myklebust+gained+experience+at+Nordea+Bank%2C+Anders+Wilhelmsen+%26+Company%2C+and+Pareto+Securities%2C+and+has+served+as+CFO+%28Chief+Financial+Officer%29+of+Norden%2C+CFO+and+CEO+of+H%C3%B6egh+Autoliners%2C+and+Chairman+of+Gram+Car+Carriers.+After+serving+as+CEO+of+OMP+Management%2C+he+assumed+his+current+position.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%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