International Shipholding Corporation (ISC) said that it will purchase three 36,000dwt Handysize double-hull dry bulk newbuilds with an option for a fourth carrier.

The vessels will be constructed at Hyundai Mipo Dockyard and are expected to be delivered between December 2010 and February 2011.

The newbuilds will cost the company approximately $90m, ISC said.

ISC paid an initial instalment of $17m while further nstalments will be paid over the construction period.

The new vessels join ISC’s fleet of 24 vessels made up of pure car and truck carriers, a molten sulphur carrier, ro-ros, rail ferries, bulkers, multipurpose ships and containerships.