Hebei Ocean Shipping Corporation (HOSCO) has commissioned Qingdao Beihai Shipbuilding Industry and Wuchang Shipbuilding Industry in China to build 14 Kamsarmax vessels at a cost of $490m.

The newbuild order includes four confirmed vessels and four options at Qingdao Beihai, and four ships and two options from Wuchang.

HOSCO expects Wuchang to deliver the first bulker by 2011.

Qingdao Beihai will deliver its vessels in 2012 and 2013, according to asiasis.com.

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