Malaysian Bulk Carriers is said to have firmed up for two newbuildings for delivery in 2015 and 2016. Chief executive Kuok Khoon Kuan said the company has signed up for two units.

Sources suggest that the first vessel could be the 56,000-dwt supramax bulker placed at Mitsui Engineering & Shipbuilding of Japan last week, valued in around $26.6m, while the second order being unclear.

He said “We have divested some of our ships during the peak cycle and now we are waiting to invest in new vessels if opportunity arises.”