HuaXia Financial Leasing (HXFL) is the latest Chinese finance house to make its shipping debut, signing and finalising deals for up to 12 bulker newbuildings worth $384m.

Shipping sources said the leasing house has struck a deal with Nantong Xiangyu Shipbuilding & Offshore Engineering for four firm 63,500-dwt ultramaxes without options.

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They added that it is also finalising an order for up to eight similar vessels with China State Shipbuilding Corp's Chengxi Shipyard— four firm ships with options for four more.