Norwegian owner Belships is to acquire two second-hand modern ultramax bulk carriers for an undisclosed price at below the current market value, according to the company.

The Oslo-listed firm on Wednesday said it will make a $15.5m downpayment on delivery in July of the duo, which were built at shipyards in Japan in 2015 and 2017.

The vessels are currently financed through time-charter lease agreements with purchase options attached, which Belships said are “significantly below current market levels”.