Shanghai Waigaoqiao Shipbuilding (SWS) has won an order for 10 capesize dry bulk newbuildings from China state-owned Shandong Shipping Corporation.

It is the largest commercial shipbuilding order the shipyard had received this year. The ten 180,000dwt capesize bulk carriers will be deployed for a contract to transport 150m tons coal and other raw materials for German energy corporation RWE.

Shandong Shipping signed long-term chartering contract with RWE and also entered into the vessel chartering agreements with domestic financial service providers Bocomm Leasing and Huachen Financial leasing. The combine value of the newbuilding and charter contracts is $1.9bn.

The 10 capesize bulk carriers are due to be delivered in 2020 and 2021.

The capesize newbuilds will be at 292 meters length, 45 meters width, be classified by China Classification Society (CCS).