Chinese bulker owner Fujian Highton Development has continued its fleet expansion, grabbing a pair of multipurpose general cargo vessels in the secondhand market.

The fast-growing company revealed in a stock exchange that two of its subsidiaries had struck deals with German owner Braren Roerd for the 2011 Huanghai Shipbuilding-built Pacific Hero and Pacific Honour at $16m apiece. Market valuations from VesselsValue put the units closer to $21m each.

The Shanghai-listed outfit had already flagged in July that it set aside $65m for fresh tonnage, part of its strategy to scale up its fleet.

Founded in 2009, Fujian Highton began with a focus on supramaxes before expanding into larger bulker classes, including capesize tonnage. By the end of 2024, the company controlled a fleet of more than 60 bulkers, 46 of them fully owned, along with three tankers.

The latest deals add to an aggressive run of purchases, which has seen more than 10 vessels snapped up year-to-date.

Earlier this year, Fujian Highton picked up four bulkers from ArcelorMittal Shipping for nearly $60m, followed by three kamsarmaxes from CDB Financial Leasing. More recently, the company took delivery of the 2012-built supramax Epic Trader, now trading under Xin Hai Tong 65.

The move on the 28,400 dwt MPPs also underlines the company’s intent to keep diversifying its fleet after earlier this year being linked to another MPP purchase, the 2009-built Emma, now renamed Xin Hai Tong 501 from SAL Heavy Lift.