Global Chartering， the Greek-Indian joint venture between Peter Livanos’ DryLog and steelmaker ArcelorMittal， has pressed ahead with its fleet renewal plans after securing new tonnage in China and sounding out yards for further orders.

Shipbuilding sources said the Mauritius-registered JV has ordered two firm 211，000-dwt newcastlemax bulk carriers at China Merchants Industry (CMI) Qingdao， with options for two more. The conventionally fueled vessels are priced at about $74m each， though delivery dates have not yet been released.

CMI Qingdao — formerly Qingdao Yangfan Shipbuilding before its merger into China Merchants Industry earlier this year — landed the deal as part of its expansion into larger bulk carriers and new ship types. The yard is traditionally known for capesize and panamax bulkers and for producing container vessels from its two drydocks.

The order comes as Global Chartering steps up expansion and renewal following the sale of several medium-size ships earlier this year. The venture is also understood to be in talks with multiple Chinese yards for additional large bulkers， including units in the upper-size segments.

Set up in 2019 as a 50:50 partnership， Global Chartering combines ArcelorMittal’s cargo portfolio with DryLog’s commercial and technical expertise. The company handles a large share of ArcelorMittal’s annual dry bulk movements from bases in London， Mauritius and India. Across the group， Global Chartering operates 42 long-term dry cargo vessels ranging from panamaxes to capesizes. The fleet includes 28 time-chartered ships and 14 bareboat-chartered units， one of which is fully owned， with an average age of around eight years.