The 180,000-dwt ships will be delivered in 2016 at a cost of $52.5m each, brokers said.
The steelmaker’s Bao-Island Enterprises ordered a capesize at the Chinese yard in November 2013 and declared an attached option this April.
Brokers pegged these at around $55m at the time.
Bao-Island is a joint venture between Chinese steel giant Baosteel and Hong Kong shipowner Island Navigation.
It was formed 20 years ago to carry cargoes for the steel group.
