Golden Ocean Group has exercised an option for three 64,000 dwt supramax bulk carriers at China-based Chengxi Shipyard.

The options were part of a firm deal signed in June this year for three similar bulkers at the Chinese yard.

Golden Ocean revealed in its latest financial results that the options were declared last month and the newbuildings will be delivered to the company during the first half of 2016.

Golden Ocean said its total newbuilding program now consists of eight supramax vessels, with two from Japan Marine United Corporation (JMU) and six from Chengxi Shipyard.

“The remaining capital expenditure for vessels under construction is $117.7m as of end third quarter (30 September 2013). The newbuildings has not yet been financed,” the company said.

Meanwhile, Golden Ocean has also exercised its rights to cancel two kamsarmax newbuilding contracts at China-based Jinhaiwan shipyard

During the third quarter, Golden Ocean booked a net profit of $15.41m, reversing from a loss of $17.15m in the same period of last year.

Revenue rose to $78.34m during the period compared to $56.09m a year ago.