Baosteel ordered two more capesizes

State-owned Chinese group Baosteel has  ordered two more capesizes 180,000-dwt at Qingdao Beihai Shipbuilding.
Capesize ships will be delivered in 2016 at a cost of $52.5m each.
Bao-Island Enterprises ordered a capesize at the Chinese yard in November 2013 and declared an attached option this April.
Bao-Island is a joint venture between Chinese steel giant Baosteel and Hong Kong shipowner Island Navigation.
Bao-Island was formed 20 years ago to carry cargoes for the steel group.