The fleet of James Chao’s Foremost Maritime is expanding with the addition of four capesize bulkers.
The New York-based bulker company has booked the quartet at Qingdao Beihai Shipbuilding Heavy Industry, lifting the number of 180,000-dwt vessels it has under construction there to six. The company’s previous two newbuildings were booked early this year.
“We understand these four newbuildings are newly contracted,” said a shipbuilding source.
No price has been disclosed but Foremost was said to be paying around $55m each for the earlier pair, which are scheduled for delivery in September 2015 and October 2016.