Scorpio Bulkers is buying 10 newbuildings from Chinese yards for $278m as it continues its aggressive fleet expansion.

The Norway OTC-listed spin-off from Scorpio Tankers said it had agreed to buy four 64,000 dwt ultramaxes and six 82,000 kamsarmaxes currently under construction.

The four ultramaxes are being built at Chengxi Shipyard and are due for delivery between first quarter 2015 and second quarter 2016. The six kamsarmaxes are being constructed at Hudong-Zhonghua Shipyard and are expected to be delivered between third quarter 2015 and third quarter 2016.

Scorpio Bulkers said the total purchase price of the newbuildings was around $278m.

The latest newbuilding acquisitions add to 22 ultramaxes and four kamsarmaxes since the company was listed on the Norway OTC market in late June this year.