Brokers say the shipowner isin the process of purchasing two 82,000-dwt newbuildings under construction at GuangzhouLongxue Shipbuilding and five bulkers of a similar size from Jiangsu New YangzijiangShipbuilding at a cost of around $23m a piece.

Sale-and-purchase contactsin the US and UK have identified the hull numbers as L0026, L0047 and YZJ2010-966,968, 669, 979 and 980. They claim all seven were penned between 2010 and 2011 incontracts that carried price tags of approximately $35m on average.

The