Three South Korean shipowners are poised to book newcastlemax bulkers worth about $594m at China's New Times Shipbuilding as part of Vale's latest newbuilding drive.
The Jiangsu-based yard will build up to 11 new ships, including options, ordered by Polaris Shipping, H-Line Shipping and Pan Ocean.
The 210,000-dwt vessels are backed by five-year contracts of affreightment from the Brazilian mining giant.
