China Ship Fund plans to invest $1bn in newbuilds, including Capesize, post-Panamax, Supramax bulkers, and multipurpose vessels.

The investment fund, which has nearly 24 newbuild orders at domestic yards, is holding talks with state-owned shipbuilders to build 20 units, according to asiasis.com.

The fund is expected to sign a ship deal with Qingdao Beihai Shipbuilding Heavy Industry for four 180,000dwt Capesize units.

The firm is expected to book ten post-Panamax bulkers, four Supramaxes and four 50,000dwt semi-submersible heavy lift vessels at Jinling Shipyard and four Supramax bulkers at Qingshan Shipyard.