Doun Kisen is said to have signed a deal worth more than $164m that would make it the latest Japanese shipping company to turn to Chinese shipyards to take advantage of lower-priced newbuildings.
The shipowner is believed to have commissioned Nantong Xiangyu Shipbuilding and Offshore Engineering to construct a series of ultramax and kamsarmax bulkers.
Shipbuilding sources said Ehime Prefecture-based Doun has ordered up to four 63,800-dwt bulkers and a pair of 82,000-dwt vessels at the Jiangsu-based shipyard, with delivery scheduled for the first half of 2020.
