TradeWinds understands that Celestia Holdings SA, an entity affiliated with Greek shipowner National Energy Transportation (NET), is behind an order for up to 36 ultramax bulkers announced this week by Rongsheng Heavy Industries.

Scepticism has greeted the announcement by Rongsheng chief executive and chairman Chen Qiang linking the order for 24 firm and 12 optional units only to a “European owner”, and characterising the price in approximate terms as some $1bn if all options are exercised, which would come to about $27.8m