Ciner Shipping Industry & Trading is said to have ordered open-hatch handysize bulk carrier newbuildings worth nearly $120m at a private Chinese shipyard.

Shipbuilding sources said the Istanbul outfit has contracted Jiangmen Nanyang Ship Engineering to build four 40,000-dwt ships to be delivered between June and September 2024.

They said the order was signed in May, with the ships priced at slightly less than $30m apiece.

The deal does not include optional vessels. Market sources expect the Ciner Group to employ the ships in its soda ash trading operations.