Sinotrans&CSC Jinling Shipyard under China's state-owned enterprise Sinotrans&CSC Holdings Co., Ltd. entered into a newbuilding contract with China-based Ningbo Marine Group for three 49,500dwt bulk carriers on Jan. 30, reported a domestic shipping news provider.

The contract totals RMB509.94 million.

Ningbo Marine Group said it aims to improve its fleet structure and competitiveness in the niche market of coal transport by boosting its fleet size, the report added.