Sinokor Merchant Marine has gone to Shanghai Waigaoqiao for a pair of newcastlemaxes. The order comes with options for two more vessels. Both Banchero Costa and Allied Shipbroking are reporting the Tier III 208,000 dwt ships will deliver in 2020. A price of somewhere between $51m and $52m has been reported.
The South Korean owner has been on a serious expansion trail in the last year, taking in many tankers and bulkers. In May it contracted with China’s Jinhai Intelligent Manufacturing, formerly Jinhai Heavy Industry, for the construction of up to twenty 208,000 dwt newcastlemax bulk carriers.