It has firmed up a letter of intent signed with Japanese broker and consultant Exeno Yamamizu in September for 16,500-dwt ships.
The company's subsidiary Franbo Logos said in a statement these are costing $20m each, but it did not reveal a shipyard.
It was not clear whether Franbo is leasing the ships back from Exeno or whether the Japanese company was chartering them itself.
Franbo
