The company said it had signed an agreement to buy a 3,500-dwt tanker built in 2008 and three 6,100-dwt dry cargo carriers built in 2007 and 2008.

It did not give a price, but said all four would be delivered by 20 April.

The owner last year bought and reactivated Turkey's Armada Shipyard and has kickstarted an order spree there that could amount to $500m in total.