It has exercised an option for two additional 38,000-dwt vessels at China’s Avic Weihai Shipyard, brokers say.

The move takes Vogemann’s newbuilding tally at the yard to six and the value of the deal to around $132m.

Jens-Michael Arndt, managing director of H Vogemann, did not respond to requests for comment when contacted by TradeWinds this week.

When TradeWinds broke news of the initial contract in December, sources suggested the first of the Avic Weihai newbuildings would be delivered in the second half of 2016.