Hong Kong’s Chellaram Shipping is said to have signed up for two 64,000-dwt bulk carrier newbuildings at Jiangsu Yangzi-Mitsui Shipbuilding Co (Yamic) in a fleet expansion move.

Shipbuilding sources said Chellaram is paying close to $35m apiece for the vessels that will be built to meet the International Maritime Organization’s Energy Efficiency Design Index Phase 3 standards and delivered in 2024.

Yamic is a joint venture between Yangzijiang Shipbuilding and Japan’s Mitsui Engineering & Shipbuilding.