Scorpio Bulkers has signed a memorandum of understanding (MOU) with ABN Amro and the Export-Import Bank of China, for a loan of up to $234.9m.

The loan will finance up to 60% of the contract price of seven Capesize vessels, which are currently under construction at Shanghai Waigaoqiao Shipbuilding. The ships are due for delivery in from the first quarter 2015 through to the second quarter of 2016.

The loan, which follows a similar $39.6m facility signed in November, is still subject to definitive documentation.