Croatian bulker operator Jadroplov has entered into an agreement with an unnamed Chinese shipbuilder for the construction of two 63,000 dwt bulk carriers.

The deal, which should become effective next month, also includes an option for one more ship, the company said in a Zagreb Stock Exchange filing.

Jadroplov has been raising funds to renew its fleet with up to three new ships in the next two years. It also plans to dispose of two of its oldest ships and lower the average age of its fleet to between five and eight years.

The company’s fleet currently stands at three supramaxes and two handies with a total of 242,727 dwt and an average age of 15 years.