China's Jiangsu Rainbow Heavy Industries has won an order to build one dry bulk carrier plus four options for Marshall Island-registered Corretaje Maritimo Sud Americano.

Corretaje Maritimo has agreed to pay $23.05m for one firm order of the 15,500-dwt bulker. The delivery date of the newbuilding is scheduled in 2016.

Jiangsu Rainbow said the four options would cost a total of $92.2m, and they have to be exercised within the next 15 months.