John Fredriksen has signed a firm deal with New Times Shipbuilding in China for a pair of newscastlemax bulkers and options for more, sources close to the Norwegian shipping tycoon say.

Word that the deal has been inked comes amid similar confirmation that his former right-hand man, Tor Olav Troim, has firmed up an order at the same yard.

TradeWinds reported last month that Fredriksen was in talks for the pair of 208,000-dwt bulkers with options for additional ships.