Bangladesh’s Meghna Group of Industries has signed a deal with Yangzijiang Shipbuilding for a series of ultramax bulker newbuildings worth $102m.

Shipbuilding sources said Meghna has placed an order for four 66,000-dwt bulkers with the Singapore-listed yard group for delivery between the second half of 2022 and the first half of 2023. The deal does not include options for additional vessels.