Jiangsu Rainbow inks five

China's Jiangsu Rainbow Heavy Industries has sealed an order for up to five bulkers.

It told the Shenzhen Stock Exchange that Corretaje Maritimo Sud Americano, registered in the Marshall Islands, will pay $23.05m for one firm 15,500-dwt self-unloader.

Delivery will be in 2016.

There are also four options costing another $92.2m.

These have to be declared within 15 months.