Daebo Shipping has awarded a contract to Hyundai Heavy Industries (HHI) for the construction of two Kamsarmax bulkers.

Delivery of the 82,000dwt vessels is scheduled for mid-2011, according to asiasis.com.

According to industry analysts, the price of each vessel is nearly $37m.

Daebo is scheduled to receive a 250,000dwt very large ore carrier from the Korean shipyard in 2012, which was ordered in 2008 for around $100m.