The Singapore-based shipowner confirmed that it has ordered four handysize ships at imabari Shipbuilding. No financial terms were disclosed. The 38,000-dwt ships are due to be delivered by 2016.

CNCo said the contract for the ships, which will be deployed by its dry bulk division Swire Bulk, were signed earlier this month.

“The company recognises the importance of the Japanese shipbuilding industry and is delighted to have successfully confirmed this order with Imabari Shipbuilding, given the company's reputation as a provider of handysize bulk carriers of the highest quality,” said Swire Bulk general manager Andrew Kidd.

“Swire