Nisshin Shipping is said to have splashed out on another major bulker newbuilding investment, ordering five ultramaxes at Jiangsu Hantong Heavy Industry.
The low-profile shipowner reportedly commissioned the quintet for delivery in the second half of 2019.
Shipbuilding players said Nisshin’s 64,000-dwt newbuildings will be built to the outgoing NOx IMO Tier II emission standards and will cost about $24m each.
