Daehan Shipbuilding announced on November 20 that the Korean shipbuilder had inked large-scale newbuilding contracts earlier this month.

The latest contract is regarding 14 Capesize (180,000 dwt) bulkers for $800m (including options), signed with Knightsbridge, Sinokor Merchant Marine and Polaris Shipping.

In addition, it is currently under negotiations with domestic and overseas operators and expects to achieve tangible results before long, Daehan said.

The Korean shipbuilder is in the process of constructing eight product carriers awarded from Scorpio Tankers and Prime Maritime in April and will commence another construction for the latest won 14 bulkers from the second half of 2014 for delivery till late 2016 in order.

These Capesize newbuilding contracts are meaningful since they were achieved thanks to Daehan’s own sales activities driven by a great deal of efforts of executives and staff. Daehan expects that management normalization will be further encouraged through these latest deals.

Having its slots scheduled till 2016, Daehan is aiming at ‘the world’s highest dock turnover ratio (over 12 units per year – in terms of 180K bulker or 115K PC)’, pushing ahead with further newbuilding contracts.