The Danish owner this week signed an order for two 34,000-dwt bulkers at Namura Shipbuilding which have been under negotiation for several months.

Peter Borup, president of Lauritzen Bulkers, says the ships have been contracted at “quite a few million” below the present quoted level for such tonnage.

“We are very happy to have managed to do business at a level when prices were good,” he said, noting the same ships today are being marketed at $25m to $26m at Japanese yards.