2020 Bulkers has declared the option for construction of further four Newcastlemax drybulk vessels at Chinese shipbuilder New Times Shipbuilding.
The vessels have a contract price of approximately USD 44.7 million and are expected to be delivered from the yard in February, March, April and May 2020, the company said on Friday.
The recently established company, led by John Fredriksen’s former right-hand Tor Olav Troim, now has eight Newcastlemaxes under construction at New Times shipyard.
The vessels are expected to deliver between September 2019 and May 2020.
The options were available under a contract 2020 Bulkers signed with the Chinese shipbuilder in October 2017, which included two firm orders for 208,000 dwt bulkers and four more options which were set to expire in December last year if not taken up.
2020 Bulkers took an option for two additional ships from the batch back in December.
The company is backed by investors Titan Opportunities Fund, which was established by former Fredriksen employees Fredrik Halvorsen and Espen Westeren.