The ships are scheduled for delivery in 2016 and are said to be costing $58m apiece. It is unclear if the deal includes any options.

Sources say a subsidiary called Stella Shipping is behind the latest order.

Rizhao is renewing its fleet with the sale of the Imabari-built, 69,000-dwt bulker RZS Joy (built 1995), which is due for special survey in December, to an undisclosed Chinese buyer for further trading.

The