China's state-owned Shanghai Waigaoqiao Shipbuilding has won newbuilding orders from two European shipowners to build five capesize bulkers with options for three more.

Including the latest deals, SWS has so far clinched deals with four European owners to build 11 capesize bulkers with seven options attached since the end of December 2012.

One of the shipowners is reportedly Norwegian John Fredriksen, who is said to have ordered six plus two optional capesize bulkers at the shipyard for about $46m apiece.

The shipyard says the next-generation 180,000DWT bulkers will consume 20% less fuel compared to their previous design.