Yangfan Group has booked a huge number of panamax bulker orders.
Guangdong Lanhai Shipping, the shipping arm of Guangdong Lanyue Development Energy Co, has booked another 10 newbuildings. 
A source familiar with the deal says Lanhai has turned to Zhoushan-based Yangfan Group for 10 bulkers of 76,000 dwt for delivery in 2013 and 2014.
“This contract was sealed during the first half of this year but never reported,” added the source.
Market players believe they are costing between $30m and $31m each.
Yangfan Group has also scooped orders for five panamax bulkers from domestic owners.
A Yangfan executive said that his company has bagged orders for the 77,000-dwt quintet from two separate companies. He declines to disclose who they are but says one inked orders for four ships. Yangfan says it will deliver all five ships in 2012 and 2013.
A market source says Hong Kong-listed SITC International Holdings is behind the quartet, while the single newbuilding has been booked by an unnamed Qingdao-based player.