M/Maritime's fleet expansion is continuing with modern Japanese-built tonnage, following the Greek company's acquisition of the latest pair of ships sold by US-listed Scorpio Bulkers.

The Athens-based firm announced on its website that on Tuesday it has signed a memorandum of agreement to buy two ultramaxes built in 2016 at Mitsui Engineering & Shipbuilding Shipyard, Japan.

M/Maritime did not identify the vessels but their description matches exactly the 60,400-dwt sisterships SBI Apollo and SBI Poseidon (both built 2016), which New York-listed Scorpio announced on the same day it had agreed to sell to an unidentified buyer for approximately $38.4m