COSCO Shipping Development has approved orders for 15 newcastlemax bulk carriers in a RMB7.92bn ($1.1bn) expansion of its ship-leasing portfolio. Ten of the 210,000 dwt vessels will be built by Shanghai Waigaoqiao Shipbuilding, with the remaining five contracted at Nantong Xiangyu Shipyard. Each ship is priced at RMB528m before tax. The Xiangyu vessels are scheduled …