The company’s board approved purchase of three 63,000 dwt bulk carriers from Imabari Shipbuilding Co., Ltd. The new vessels will use NEW I-STAR design.

NEW I-STAR bulker is based on I-STAR, with increased deadweight by 2,000tons, and decreased fuel consumption by around 12% as a result of reviewing the main propulsion unit and energy saving technologies.

The total value of the contract is about $86 million.