Beijing-based China Minsheng Trust has placed its first orders with a contract for eight kamsarmax bulkers at China's Chengxi Shipyard.
The Chinese lessor has booked four newbuildings and secured options for another four in a deal that could be worth $224m if all the ships are ordered.
Officials at Chengxi declined to comment for this story, citing contract confidentiality, while China Minsheng Trust could not be reached.
