China's Yangzijiang Shipbuilding finalized newbuilding resale deal with Thai owner Precious Shipping for two former Freeseas newbuildings due delivery in October and November, 2012.
Precious said it would pay $19.4m each for the 34,000-dwt vessels.
The duo ex-Free Orion and ex-Free Perseus were originally ordered by FreeSeas, but cancelled after the Greek owner failed to make the final payment on the pair.
Precious said that the move was in line with its strategy of rejuvenating its fleet.