J Lauritzen has secured a $167m loan to acquire five Handysize and one Capesize bulk carrier.

The Danish shipowner said the six bulk carriers are under construction at Japanese yards.

A 12-year loan agreement was signed between French bank Societe Generale, the Bank of Tokyo-Mitsubishi UFJ and J Lauritzen.

The loan is backed by Japanese export credit agency Nippon Export & Investment Insurance, the company said.