These two new 63,000-dwt vessels are due to be delivered to the shipowner in November 2014 and January 2015 respectively.

To help fund the two newbuildings, the company has completed a private placement that raised a total of $22.5m.

The offering comprised the sale of 10.4m news shares and 6.9m existing shares at $1.30 each, raising $13.5m and $9m respectively.

Greenship Holdings Trust will maintain a majority holding of 50.14% in Greenship Bulk Trust following the placement exercise.

Greenship controls the bulker fleet of Jaccar Holdings, the investment company of Jacques de Chateauvieux, and is operated out of Singapore.

Its 63,000-dwt bulkers are marketed as fuel efficient but the company also claims it has a way of making sure the $2,500 per day in saved fuel costs will stay in-house as it supposedly has more control over operations than others.

In its interim results released in October Greenship claimed its fleet of eco-design bulkers outperformed the Baltic Surpmax Index (BSI) by 32%.

Greenship, which adopts a more low-key profile, trades over-the-counter (OTC) in Oslo following a listing in June this year.

Jaccar also holds a 23% stake in Sinopacific Shipbuilding Group in China, which owns Dayang Shipyard.