Scorpio Bulkers, a provider of marine transportation of dry bulk commodities, has agreed to purchase five new building vessels from the Chinese Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.

The company announced that it has entered into agreements to buy five Kamsarmax dry bulk vessels currently under construction at Hudong-Zhonghua. The total purchase price for the vessels is approximately $157 million.

Delivery of the 82,000 DWT vessels is scheduled to take place between Q3-15 and Q1-16.

Hudong-Zhonghua is a large shipbuilding enterprise under the leadership of China Shipbuilding Group Corporation (CSSC). The shipyard's major production areas are located at the east part of Shanghai, along both sides of Huangpu River, covering an area of 1.35 million m2 and 2000 meters of wharf line. (Source: Shipbuilding Tribune)