China’s Jinling Shipyard has bagged an order to build three 49,500 dwt dry bulk carriers for Ningbo Marine, reports said.

The shipbuilding contract for the three ships is worth a total of RMB509.94m ($81.55m), or RMB169.98m per vessel.

Ningbo Marine said the latest investments into newbuildings would help to renew the fleet as the company is also disposing of old tonnage and less energy efficient vessels.