Shipbuilding companies in China are receiving enquiries for baby capesize bulker newbuildings of between 100,000 dwt and 130,000 dwt.

The majority are said to have come from Europe, including Greek shipowners. But US commodities giant Cargill is also said to be seeking to charter up to six 110,000-dwt newbuildings, with several shipping companies vying for the project.

One shipyard executive confirms that his company has been approached to build the mini-capes and that discussions are at an early stage.