Shanghai-based iron and steel company Baosteel Group has ordered two capesize bulkers from Chinese shipbuilder Qingdao Beihai Shipbuilding Heavy Industry.

The two 180,000dwt vessels are slated for delivery in the first quarter of 2016.

The value of the contract has not been revealed, but the estimated value of the deal is USD 104 million, with USD 52.5m per unit.

The vessels will feature an overall length of 295m, beam of 46m, and a depth of 24.8m.