SwissMarine Services has been reportedly discussing with Chinese state-owned shipyards to order a series of capesize bulker newbuildings.
The shipowner is said to have signed a letter of intent (LOI) for four capesizes at Dalian Shipbuilding Industry Co (DSIC) but it has ended up without materializing.
Industry sources say SwissMarine would order up to six capesizes at DSIC or Shanghai Waigaoqiao Shipbuilding.
The owner is now proceeding with its debut newbuilding order as the ship prices hover around historical low levels.
One source says SwissMarine is targeting low-$40m for a 180,000-dwt newbuilding but shipyards are asking for mid-$40m level.