John Fredriksen's Frontline 2012 appears to have exercised options for four capesize bulkers at STX Dalian recently.
Frontline 2012, which signed a newbuilding contract for four firm 180,000-dwt bulkers and additional four options in January this year, is said to have firmed up optional orders for four newbuildings. Overall eight bulkers on order at STX Dalian will be delivered in 2014-2015.
Also, sources said the shipowner secures additional options for four of same size at the yard.
Frontline 2012 is aggressively investing in newbuilding capesize fleet and has placed most of orders at Chinese shipyards, such as SWS, DSIC, and Yangzijiang Shipbuilding. If the owner firms up options and those signed by LOI, then it would have a total of 32 capesize bulkers on order.
Market players estimate newbuilding options recently ordered would cost around $46m-47m apiece.