Greathorse Shipping of China has found employment for its latest ultramax newbuilding.

The Tiger Group-backed owner has fixed out the 63,000-dwt Tiger Shanxi (built 2006) on a 12-month contract, the Baltic Exchange says.

A rate of around $7,300 per day is said to have been paid for the vessel fresh out of Jiangsu New Yangzijiang shipyard.

According to VesselsValue the Tiger Shanxi becomes the owner’s seventh trading ultramax in a fleet of 18 bulkers worth almost £290m.

Greathorse