Paragon Shipping spends $92m on three bulkers at Yangzijiang

Two of the 81,800 dwt vessels are scheduled to be delivered in the second quarter of 2015 and one is due to be delivered in the fourth quarter of 2015.

Michael Bodouroglou, chairman and ceo of Paragon Shipping said: “With this order, we have increased our newbuilding orderbook to seven dry bulk vessels and one containership, which brings our total fleet to 22 vessels and improves our fleet profile significantly.”

He continued: “We believe we are at the start of a strong year for the dry bulk market and are positioning Paragon to take advantage of an improving market.”