Japanese tonnage provider Nisshin Shipping is reinvesting money it made from the recent sales of five tankers into kamsarmax bulker newbuildings, ordering up to 10 vessels worth around $280m.
The Tokyo-based shipowner has signed up for five 82,000-dwt newbuildings with Jiangsu New Hantong Heavy Industry (Jiangsu Hantong). The deal includes options for five more vessels.
Industry sources said Nisshin is ploughing back the money it made from recent sales of four chemical tankers and one LR1 tanker into the Jiangsu Hantong newbuildings.
