Latest reports say Densay has booked one 64,000-dwt bulker at the Nanjing-based facility for delivery in February 2017. It is said to be costing $27.5m.

Densay Istanbul is listed with a further three 64,000-dwt bulkers and one 81,600-dwt unit there.

But founder and group chief executive Tayfun Gunerhan says Densay group in Istanbul has “no relationship” with the listed orderbook. “Densay Shipping and Trading JLT Dubai will be the commercial manager of the listed orderbook,” he said.