Having succeeded in receiving continuous new orders recently, China’s Guangzhou Shipyard International (GSI) is expected to surpass its yearly order aim earlier as accomplishing over CNY 10bn (around $1.6bn) newbuilding contracts inked for this year.

In October 20, GSI is said to have entered an additional agreement for building two 250,000 dwt ore carriers from compatriot Henghou Group.

Only in the third quarter of this year, the Chinese builder already won eight same-sized newbuildings.

In addition, GSI signed a newbuilding contract for 113,000 dwt product carriers with Navig8 Group on October 28. Four newbuildings took effective upon signing and the rest two are planned to take effect at the end of November.

The newbuilding design is in-house developed by GSI with intellectual property right, known as having energy saving and eco-friendly features.