CSSC Shipping has moved to bolster its dry bulk portfolio with a pair of newcastlemax newbuilds.

The Hong Kong-listed leasing arm of state-owned China State Shipbuilding Corporation (CSSC) has struck a deal for the 210,400 dwt units with Qingdao Beihai Shipbuilding and China Shipbuilding Trading.

Each vessel is priced at RMB528m ($73.5m), with deliveries scheduled by December 2027 and March 2028. The ships will be taken on by two of CSSC’s special-purpose vehicles, Fortune Propulsion and Fortune Prosperity.

CSSC Shipping, which is listed with more than 30 bulkers, stated the transactions will enable it to optimise its fleet profile. As all parties involved in the transaction fall under the CSSC group umbrella, the deal remains subject to approval by independent shareholders, the company said in a filing.