Avic International Leasing is back in the shipbuilding market after three years.

The Chinese leasing company has struck a deal with New Dayang Shipbuilding for two ultramax bulk carriers to be delivered in 2024.

They will be built to the International Maritime Organization’s Tier III NOx standards and based on a Crown 63-Plus design.

The contract was signed in a virtual ceremony by Avic Leasing, New Dayang and Sumec Marine.