Hanjin Heavy Industries & Construction announced on October 24 through a regulatory filing that the Korean shipbuilder had won a contract to build two bulkers worth KRW 116.253bn (around $110m) from a Marshall Islands-based shipowner.

The contract value comes at around $55m apiece, with a vessel type looking to be large bulker of 180,000 dwt capesize.

This latest newbuilding agreement corresponds to 4.56% of revenue recorded from last year and contract period commences on October 23, 2013, due November 30, 2015.

The bulker pair seem to be constructed at Hanjin's Subic Shipyard in the Philippines (HHIC-Phil).