Cosco Group has announced that Prosperity Investment, a wholly-owned subsidiary of the group, has signed shipbuilding orders for a total of 10 bulkers.

Prosperity Investment signed with CSSC Chengxi Shipyard for the construction of four 38,800dwt bulkers and four 63,800dwt bulkers. The price per vessel is $24.8m and $28.6m respectively, with deliveries scheduled in 2016 and 2017.

In the meantime, Prosperity Investment also contracted Shanhaiguan Shipbuilding for the construction of two 38,500dwt bulkers, which are expected to be delivered in 2016.

The new orders are part of Cosco’s fleet optimization plan. The group has ordered eighteen bulkers and five containerships since the end of 2013.