Turkish bulker giant Ciner Shipping has extended an expansion drive with the addition of further newbuildings and more deals likely to be signed shortly.

The investments, backed by financing worth more than $1bn from Chinese institutions, have pushed the size of Ciner’s bulker fleet to 50 ships and its value past the $1.6bn mark.

This makes Ciner the largest owner of dry cargo vessels in its homeland, alongside Yasa Shipping.