Polaris lines up Vale-backed newcastlemaxes

AI Summary

Polaris Shipping of South Korea plans to order up to four newcastlemax bulk carriers at Hengli Shipbuilding in China, with two firm contracts at the Dalian yard and options for two more. Each ship is valued around $80 million, signaling significant shipbuilding activity in the bulk carrier sector.

South Korea’s Polaris Shipping has been linked to an order for up to four newcastlemax bulk carriers at China’s Hengli Shipbuilding. Shipbuilding sources report the Seoul-based owner has contracted two firm 210,000 dwt bulkers at the Dalian yard, with options for two more. The ships are priced at around $80m each and are expected to …