Taiwan-based bulker operator, Kuang Ming Shipping is likely to place an order for construction of two 60,000 dwt bulkers at a Japanese yard.
An official from Kuang Ming said that the company has a scheme to place an order for two newbuildings when the market is depressed as it is now, believing that bulker freight market will gradually recover for the next two years, SinoShip News reported.
He added that the company would sign a newbuilding contract for two bulkers with a Japanese shipbuilder in August.
Meanwhile, Kuang Ming Shipping has a bulker fleet with a total of 19 units which comprise its own and chartered-in fleet. Also, the Taiwanese company has a plan to secure eight more new vessels form orders, purchases, long-term charter and so on.
Particularly, the operator has succeeded in lowering the average age of its bulker fleet to 6 years, as having taken delivery of high specification newbuildings from Japanese quality shipyards in recent years.