Greek shipowner Chartworld is looking at China’s Shanghai Waigaoqiao Shipbuilding for up to six kamsarmax bulkers.

Chartworld is understood to be looking at kamsarmax prices of around $30m, down from over $50m three to four years ago at the peak of the market.

Market players say SWS is offering the vessels for only $30m apiece.

Chartworld is said to be looking to book up to six of the bulkers for delivery from 2013. The deal would be for two firm vessels and four options.

“This is a cut-throat price,” said one newbuilding broker. “The yard will hardly make any profit on the kamsarmaxes. It may just break even if it’s lucky. This really is a dangerous level.”

SWS was set up in 1999 but has never before built kamsarmaxes. So far it has focussed on VLCCs, aframax tankers and capesize bulkers of 174,000 dwt to 206,000 dwt.