Yangzijiang Shipbuilding has signed a contract with China Development Bank Financial Leasing for 10 dry bulkers, news website Lloyd's List reported.
The deal, backed by five-year charters from commodities giant Cargill, includes firm orders for five vessels and options for another five that will comply with the International Maritime Organization's Tier-III nitrogen oxide regulations, the report said quoting an unnamed Yangzijiang executive.
While the executive declined to disclose the exact contract value, shipbrokers priced the newcastlemax bulkers at about $47m apiece, with delivery scheduled between 2019 and 2020.
It is the second time that CDB Leasing has placed orders at the China-based Singapore-listed builder, the report published on December 1 said.
The Hong Kong-listed leasing arm of China Development Bank previously booked four 261,000 metric tons of deadweight for Australian miner Fortescue Metals Group.
Shares in Yangzijiang lost 2 percent to S$1.51 on the Singapore Exchange. The stock has risen 83 percent over an year.
