Fresh details have emerged regarding a dry cargo newbuilding order by Greek owner Petros Pappas at Shanghai Waigaoqiao Shipbuilding (SWS). 

The contract, first rumoured to be for capesize vessels, is now understood to be for newcastlemaxes.

TradeWinds reported last week, citing shipbroking sources, that Pappas’s private company Oceanbulk placed two firm 180,000-dwt capesize newbuildings at the Chinese yard, with options for two more.