Busy Chinese bulker owner and operator Jinhui Shipping and Transportation has turned to newbuilding market in its latest fleet expansion move.

The Oslo- and Hong Kong-listed outfit has contracted Jiangsu Hantong Ship Heavy Industry for a pair of 63，500 dwt vessels in a deal worth $68m.

Delivery of the first newbuild is expected by December 2026， while the second unit should be handed over by November 2027.

Both ships will be chartered out and more fuel-efficient and of higher operational efficiency than the other bulkers in Jinhui’s fleet， the company said.

Jinhui has since last year cleared out several older vessels and brought in younger replacements either via charter-in deals or acquisitions. The company’s fleet currently stands at 33 bulkers of which 23 are owned.