BRUSSELS, Mar. 1 (Reuters) – Belgian shipping group CMB announced a burst of ship acquisitions to cut operating costs and benefit from better bulk carrier prospects, and signed a preliminary financing deal of up to $500 million.

CMB said Bocimar, its principal unit specialising in dry bulk shipping, had converted an order for three Aframax oil tankers from Hanjin Heavy Industries Co into four larger Capesize bulk vessels.

It would pay $56 million for a 180,000 deadweight tonne (dwt) to be delivered in October 2011 and $73 million each for three 205,000 dwt vessels to be delivered in January, April and July 2012.

CMB had originally ordered two bulk carriers from Hanjin, but changed the order to the three Aframaxes a year ago.

CMB financial controller Frank Geerts said the prospects for Capesize vessels was better than then and the deal itself was at more favourable prices.