GriegMaas, the new bulker venture backed by Norway’s Grieg Star, appears set to expand its fleet with a fourth Chinese built ultramax.

European brokers say the venture has bought the 63,000-dwt GH Rough Habit (built 2012) from Celsius Shipping of Denmark for $16.6m, which is a price roughly in line with expectations.

The sale would be attractive for Celsius as it bought the ship in August 2016 in a bank deal as JS Loire for only $12.75m.

A spokesperson for Grieg Star’s declined to comment on specific transactions but added GriegMaas planned to increase its fleet.

In June GriegMaas reportedly bought a sistership GH Frankel (built 2012) from Celsius reportedly, paying $16.9m .The ship is still listed on the Celsius website.

StarMaas was set up in January as a joint venture between Grieg Star and Maas Capital.

From the outset StarMaas had two ships that it took over from Grieg, the 58,000-dwt Star Athena and Star Eracle (both built 2012).

These ships were both built at the Dayang shipyard.