China's Shanghai Waigaoqiao Shipbuilding (SWS) is said to have signed a letter of intent with Cargill to build up to six fuel-efficient capesize bulkers.
Sources said the LOI includes three firm newbuildings and additional three options.
It is estimated that newbuilding price has been agreed at just in excess of $46m per ship, according to brokers.
Since newbuilding prices have currently dropped near to the bottom, Cargill plans to own newbuildings again, since it stepped out of shipowning business in 2001.
It is said that Cargill is planning to place new orders through a joint venture in the form of partner providing technical management while Cargill taking charge of commercial management.
Meanwhile, Cargill is said to be interested in other segments as well, which are now in evaluation.