Precious Shipping orders four bulkers in ChinaPrecious Shipping orders four bulkers in China

Sainty Marine Corporation in Nanjing, China, will build the 64,000 dwt pair. Due for delivery ahead of June in 2014, the vessels will cost $27.4m each, with 15% paid upfront and 85% on delivery. Precious also has options for two further vessels of the same size.

The smaller duo will come from China Shipbuilding & Offshore International and Shanhaiguan New Shipbuilding, with one due ahead of 31 May 2015 and the other by the end of 2015. The bulkers will cost $22.3m each, with various 10% instalments as the builds progress and 60% due on delivery.

All four of the vessels will be Singapore-flagged and after the delivery of these and four other newbuilds under construction, Precious' fleet will comprise 48 vessels with a total capacity of 1,636,583 dwt.