AVIC Weihai Shipyard located in Shandong Province, China, has recently been awarded newbuilding bulker orders.
According to Naples shipbroker Unitramp, two Italian shipowners, Giovanni Visentini and Mariano Pane placed orders for bulkers at AVIC Weihai.
Giovanni Visentini Trasporti Fluviomarittimi inked an order for two 38,000 dwt bulkers with two options. The 38,000 dwt eco-friendly newbuildings, due delivery in 2015, are planned to be equipped with two mobile cranes. Italian classification society RINA will provide technical information.  
The newbuilding price is not disclosed yet, however it is estimated to be around $20m apiece.
Moreover, Globeco of Mariano Pane placed an order for a bulker plus one option at AVIC Weihai with a contract value of around $20m for each vessel.
Mariano Pane said that dismal market condition is the best time to seize good investment opportunity, implying the company would push forward investing further into newbuildings.