Hyundai Heavy Industries is said to have finalized an order to build up to six Newcastlemax bulk carriers with Oldendorff Carriers of Germany.
The contract includes four firm 207,000-dwt bulkers, with one plus one optional newbuildings, according to brokers.
Industry players say the firm vessels are due for delivery from the end of 2014 by early 2015 and suggest they will cost more than $50m apiece.