Further expansion of its shipowning business and similar moves to the MPP diversification could both be on the agenda, its chief executive says.

Ultrabulk, which is primarily an operator of bulk carriers, has four fully-owned vessels and a further four that are owned via a joint venture with Sumitomo Corporation.

The venture, named Ultra Summit, now has four bulkers after the addition of two 63,000-dwt newbuildings at Imabari for delivery in 2017, Ultrabulk’s annual report said this week.