The Singapore-based company has gone to state-owned Bohai Shipbuilding Heavy Industry for two 210,000-dwt newcastlemaxes for delivery during the second half of 2016, according to informed sources. They say the contract was inked last year but was never reported. RGL is believed to be paying around $58m each for the ships.

The Chinese owner also has a pair of 209,000-dwt bulkers under construction at Nantong Cosco KHI Engineering Co (Nacks).