Bulker owner Navibulgar has returned to Yangzijiang Shipbuilding for more newbuildings, signing up for a series of handymax vessels worth $132m.

Shipbuilding sources said the Bulgarian shipowner has ordered four 45,000-dwt newbuildings to be delivered in 2024.

Navibulgar is said to be paying around $33m for each bulker, which will be built to comply with Phase 3 standards of the Energy Efficiency Design Index (EEDI).

An existing client of Yangzijiang, Navibulgar also has six 31,800-dwt Great Lakes bulkers under construction at the Jiangsu-based shipyard.