China's COSCO Shipping Bulk has signed up for another 16 multipurpose grain carriers at Fujian Shipbuilding, extending its newbuilding spree in the dry bulk sector. The 87,000 dwt vessels are backed by three Chinese financial leasing companies, with ICBC Financial Leasing involved in 11 ships, Zheyin Financial Leasing in three and Yongying Financial Leasing in the remaining two. The order is estimated to be worth around $800m, though the contracting parties have not disclosed pricing or delivery dates. The agreement was signed during an event marking the 160th anniversary of Fujian Shipbuilding's origins, where the yard group also secured contracts for main engines and generator sets for the 16 vessels. The deal extends a sizeable run of commitments between COSCO Shipping Bulk and Fujian Shipbuilding. In June 2025, the two parties teamed up with CITIC Financial Leasing for 15 firm and 15 optional 80,000 dwt multipurpose grain carriers, valued at about RMB360m ($50m) apiece, booked at Fujian's Mawei Shipbuilding and Xiamen Shipbuilding facilities for delivery in 2027 and 2028. COSCO has continued expanding in the grain carrier segment. In July, its listed leasing arm COSCO Shipping Development unveiled a separate RMB8.66bn ($1.27bn) order for 24 bulkers, comprising twenty 87,000 dwt multipurpose grain carriers and four 210,000 dwt newcastlemaxes, split between COSCO Shipping Heavy Industry's Dalian yard and CSSC Chengxi Shipbuilding, with all vessels earmarked for 20-year leases to COSCO Shipping Bulk subsidiary Huifeng. The latest Fujian contracts add another 16 vessels in the same capacity class, involving a different group of leasing houses.