China’s private-owned shipbuilder Yangfan Group is said to have inked a contract to build eight bulkers from a Turkish owner.

TradeWinds reported that Yangfan was awarded an order for eight 64,000 dwt bulkers for $216m in total from Kiran Holding of Turkey. The eight vessels are said to comprise four newbuildings plus four resales.

Previous owner of the four 64,000 dwt resale bulkers was the one based in the Middle East.

Average value of the eight newbuildings comes at around $27m each and there seems a value gap between newly contracted and resale vessels. The vessel is known as an eco-friendly bulker designed by Shanghai Merchant Ship Design & Research Institute (SDARI).

Meanwhile, Tamer Kiran, CEO of Kiran Holding, announced that it had bought two resales for $26.50m apiece last month.