In a note to investors the company said the 60,000-dwt vessels will boast a design and features that improve fuel efficiency.

“The board is of the opinion that it has obtained favorable terms, attractive pricing and considers risk / reward as attractive from a historical perspective,” the owner added in a statement Monday.

While Golden Ocean failed to elaborate on pricing a leading US sale-and-purchase broker tells TradeWinds that supramax newbuildings have been averaging around $25.5m