Taiwan Navigation Company (TNC) has been tied to the order of two Ultramax bulk carriers.
The order was allegedly placed by the company at Japanese Oshima shipyard on May 10, VesselsValue's data shows.
As set under the contract terms, the company would pay USD 25.5 million for each of the two 62,000dwt vessels.
The bulkers are expected to be delivered in October and November 2018.
Currently, TNC's fleet comprises 36 vessels with a total deadweight of 1.6 million tons, according to the company’s data.
World Maritime News contacted TNC for more details on the matter, however, the company is yet to reply.