TradeWinds reports Global Chartering, a joint venture between ArcelorMittal and DryLog, is in talks with shipyards in China to build a series of bulk carriers.
Specifically, the company has already signed an agreement with China Merchants Industry (CMI) in Qingdao for the construction of up to four Newcastlemax bulk carriers, each with a capacity of 211,000 dwt.
The agreement covers 2+2 vessels, at a price of around $74 million per unit. At the same time, the joint venture is in talks for Kamsarmax and baby-Capes of 120,000 dwt, aiming to order 4 to 6 vessels of each type.
This move is part of Global Chartering’s fleet renewal and expansion plan, following the sale of several mid-size bulkers earlier this year.