Bulgarian bulker owner IHB Shipping has moved to renew its fleet in a deal with Chinese builder New Dayang for three ultramax newbuilds.

  The Varna-based unit of Industrial Holding Bulgaria (IHB) should see the vessels delivered from the shipbuilding arm of state-run machinery manufacturer Sumec by end-October 2027 through to end-May 2028.

  The deal， worth about $104.3m， covers two firm units of the Crown 63 Plus design and an optional newbuild， expected for approval in July this year.

  The first newbuild came at $35.15m， excluding additional works assigned during construction， while the remaining two vessels， delivering in 2028， carry a price tag of $34.6m， the parent company said.

  IHB Shipping sports a fleet of two supramax and handy bulkers each， all built at IHB’s Bulyard， with the last one ordered in 2010.