Chinese bulker company Amoysailing is ramping up its fleet by splashing out close to $240m on newbuildings and secondhand vessels.

The Xiamen-based shipping company has struck a deal with Jiangsu Haitong Offshore Engineering Equipment for four firm 64,000-dwt bulker newbuildings.

A shipbuilding source confirmed Amoysailing’s order at Jiangsu Haitong.