Tor Olav Troim-led 2020 Bulkers has exercised an option for two more Newcastlemaxes at China’s New Times Shipbuilding.

The two bulkers are priced USD 44.7 million apiece and are scheduled for delivery in December 2019 and January 2020 respectively, according to the data from Asiasis.

The order is an option available under a contract 2020 Bulkers signed in October this year, which included two firm orders for 208,000 dwt bulkers at the yard for USD 44.2 million each.

Under the deal, the Norwegian shipowner 2020 Bulkers has four options at the Chinese shipyard, which are set to expire at the end of December if not taken up.

Norwegian 2020 Bulkers recently raised a small amount of fresh capital from investors which are likely to be used to finance the construction of the ships.