China Dalian International Corporation is planning to order five 57,000dwt Supramax bulkers at Jiangsu Nantong Ship Heavy Industry.
The $141m contract is expected to be handled by China Dalian’s 80%-owned subsidiary Da Sin and four other Singaporean shipping companies.
Da Sin will provide $36.4m of financing while the remaining companies will provide $21.5m.
The remaining 60% of the financing, which accounts for nearly $83m, will be secured through banks.
The company expects the vessels to be delivered between December 2010 and September 2011.