Belships recorded a small profit for the final quarter of 2020 and is now looking ahead to stronger markets in 2021 and further growth opportunities.

"There has been a remarkable development over the past few weeks," the Oslo-listed shipowner and operator said in its fourth-quarter financial report.

"Freight Forward Agreements [FFAs] currently indicate a market for supramax and ultramax of about $14,500 and $16,000 per day for the remaining part of the year."