German owner Oldendorff Carriers has exercised options for two 208,000dwt Newcastlemax bulkers at Jiangsu Hantong Shipbuilding & Heavy Industry.

The price for each vessel is $52m, and deliveries are scheduled in September and November of 2016.

Oldendorff said its newbuilding program currently consists of 68 newbuildings. It also sold one 180,000dwt bulker under construction at Beihai Shipbuilding for $58m, having ordered the vessel at $43m.