Mining giant Rio Tinto has logged a hefty profit of about $24m from selling three LNG dual-fuelled, 210,000-dwt bulker newbuildings that it booked at Chinese state-owned Qingdao Beihai Heavy Shipbuilding Industry.

Shipping sources said the world's largest mining company had sold the trio to US-based shipping investor JP Morgan for about $75m each, registering a profit of $8m per ship.