China’s state-owned shipbuilder Bohai Shipbuilding Heavy Industry turned out to have bagged an order to build two 210,000 dwt very large ore carriers (VLOC) from Hyundai Merchant Marine (HMM).

As expiration is coming close for a 20-year Contract of Affreightment (COA) signed with POSCO for two existing 200,000 dwt VLOCs, the Korean shipping company placed a newbuilding order alternatively for the purpose of renewing the deal. To take advantage of more attractive newbuilding price compared to compatriot builders, HMM is said to have decided to sign a contract with Bohai, TradeWinds reported.

Valued at around $53.30m apiece, the latest inked VLOC duo is planned for delivery in January, 2017.

Meanwhile, Polaris Shipping of Korea placed a newbuilding order for 1+1 units of 208,000 dwt VLOC at compatriot builder Daehan Shipbuilding for around $56-57m apiece with delivery planned in the second half of 2016.