London-based Ravi Mehrotra is to order six bulkers in China.
The Foresight Group chairman is in talks with four yards for a pair of panamaxes of around 80,000 dwt and four supramaxes of 57,000 dwt. 
But it appears he is playing a wait-and-see game with the yards, where he says asking prices for newbuildings have further to fall.
Mehrotra says yards in China are asking around $28m for panamax and $24m for supramax but he believes around $4m could be knocked off the price of each if he bides his time.