James Marshall-led Berge Bulk is set to spend about $540m on an order for up to eight dual-fuelled newcastlemax bulkers, while also expanding its presence in the ultramax segment.

Shipbuilding players said the Singapore-based shipowner has commissioned Shanghai Waigaoqiao Shipbuilding (SWS) to construct a pair of 210,000-dwt LNG-fuelled newcastlemaxes for delivery at the end of 2021 and in early 2022.