China State Shipbuilding Corp-affiliated state yard Shanghai Waigaoqiao Shipbuilding (SWS) has been awarded a contract to construct two capesize bulkers from German shipowner Neu Seeschiffahrt.
According to industry sources, Neu placed an order for two 180,000 dwt bulkers due for delivery in 2016 for $47.5m each at the yard and options are not yet disclosed. The German shipowner had already taken delivery of two 176,000 dwt bulkers from SWS back in 2011.  
Meanwhile, Norwegian shipowner Frontline 2012 had recently ordered capesize bulkers with newbuilding prices of $46m each at SWS and the ship value seems 3% up from then.