Celsius Shipping has been linked by brokers for a bulker bargain buy from China's troubled Sainty Marine Corporation.

Sources say that the Danish outfit is behind the purchase of two Chinese-built ultramax newbuildings, Ichaya Naree and Inkarat Naree, for US$16.5m each. It is also said to have bought two more bulkers built at the yard, Sainty Victory and Sainty Valiant, for US$12.5m each. All the ships were originally ordered by Thailand's Precious Shipping and are around 64,000dwt in size. Precious had rejected the ships as they didn't meet quality standards.