Malaysian Bulk Carriers (Maybulk) has set aside RM400m as it goes about another fleet expansion with five new bulkers eyed which will take its fleet to 27 units or 1.5m dwt by 2018.

"Many shipping companies are increasingly running into financial difficulties due to the bleak outlook in the shipping market, but we remain profitable although at a much lower level," Maybulk CEO Kuok Khoon Kuan said earlier this week.