Onomichi Dockyard has reportedly struck separate newbuilding deals for up to five 40,000-dwt bulk carriers through a new top-heavy payment scheme.
The deal is indicative of a structure involving a larger-than-usual initial payment, offered by some Japanese yards, to take advantage of the recent low value of the yen against the US dollar.
The yen has been sliding against the dollar since the US Federal Reserve started raising interest rates to counter inflation earlier this year.
