Greece's Chartworld Shipping has finally inked a letter of intent to build kamsarmax bulkers.
The Kollakis family company has been keen to contract the newbuildings since last year.
Initially, the owner planned to order two newbuildings plus further options at China's Shanghai Waigaoqiao Shipbuilding but it has penned the LOI with COSCO Shipyard Group.
Brokers have publicly attributed a price of about $30m per ship to the project.