Belships is moving full steam ahead with fleet expansion, having signed on the dotted line for a third vessel within a month.

The Oslo-listed player has agreed to buy the 55,866-dwt Sephora (built 2007) from Elias Kulukundis-owned Prospero Marine for $12m.

Half of the cost will be paid in cash from a $140m loan penned in early March.

The rest will be paid through 7.4