Zhejiang Xinyihai Shipping has placed an order at Jiangsu Haitong Offshore Engineering for the construction of a 51,000 dwt supramax bulk carrier.
The ship will be deployed for domestic bulk shipping operations. The price for the ship is RMB157.8m ($22.2m).
The company also plans to order another two bulkers in 2020.
Xinyihai Shipping was established in 2015 and is an integration of the shipping assets of state-run Zhoushan Transport Investment Group. The company currently owns a fleet of 27 ships comparing of both bulkers and tankers.