New York’s Foremost Group has added a pair of kamsarmax bulker newbuildings to its growing fleet.
The James Chao-controlled shipowner has contracted state-owned Chengxi Shipyard to build two 85,000-dwt bulkers for delivery in 2021.
According to one shipbuilding source, Foremost signed up for the pair late last year but the newbuilding deal went unreported.
The cost of the 85,000-dwt vessels has not been disclosed but brokers suggested that a standard newbuilding ordered in China to IMO Tier III emissions standards would fetch slightly more than $29m each.
