Marine link

Ore Carrier

China & Brazil Sign $1.6B Shipbuilding Pact

Brazilian mining giant Companhia Vale do Rio Doce (Vale) reportedly signed a $1.6 billion agreement with Chinese Rongsheng Shipbuilding and Heavy Industries to build 12 large ore carriers, according to a report on Xinhua.  The ships, each with a 400,000 dwt capacity, are the largest ore carriers to be built in the world. The fleet will have an estimated capacity to carry 30.2 million metric tons of iron ore per year, which represents 31 percent of Vale's shipments to China in 2007, Vale said. According to Vale, the new ships have high safety standards and will reduce the high cost of long haul maritime transportation of iron ore to steelmakers.    The first of the carriers is due to be ready in early 2010. All12 carriers should be ready by 2012. The fleet will be part of Vale's Brazil-Asia shuttle service, which currently has six large ore carriers. Vale has an investment program of $59 billion during 2008 to 2012 period. (Source: Xinhua)  

JFE’s Ship Unit Targets Orders for Five Vessels

JFE Holdings Inc.’s shipbuilding unit is reportedly aiming to win orders for as many as five iron ore carriers, according to a report on Iron-ore carriers including Nippon Yusen K.K. and Mitsui O.S.K. Lines Ltd. are expanding dry-bulk fleets to tap demand for the steelmaking material. Exports of the ore from Australia, the world’s largest shipper, are forecast to rise at an average annual rate of 7 percent to 2015

Largest New Shipping Order

China's largest private shipbuilder has signed this year’s biggest deal in terms of dead weight tons, according to the company. Jiangsu Rongsheng Heavy Industries Group signed a contract Friday with Oman Shipping to build four iron ore carriers, each with a dead weight of 400,000 tons. The deal is the second largest for the company after a contract for 12 iron ore carriers was inked with Brazilian mining giant Vale last August

This Day in Coast Guard History – September 13

1941-After the Danish government in exile asked the U.S. to protect Greenland, the cutter Northland seized the Norwegian sealer Buskoe, with Nazi agents on board trying to establish radio and weather stations in Greenland, in MacKenzie Bay, Greenland.  The capture of the Buskoe was the first U.S. naval capture of World War II. 1953-When the 6,000 ton ore carrier SS Maryland grounded off Marquette, Michigan, a Coast Guard helicopter

Iron-Ore Ship Rates Rise as China Spends

Iron-Ore carrier daily rates rebound as China spends US$158-billion. Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program, reports Bloomberg Business News. Capesizes, each carrying 160,000 metric tons of ore, will earn $12,500 a day in the fourth quarter

China Policy Change Opens Door for Vale Mega-Ships

A Valemax bulk ship at the dock in Japan (photo: Vale)

China has amended rules around ships it will allow to berth at mainland ports, paving the way for Brazilian miner Vale to ship iron ore in its giant 400,000 deadweight tons (DWT) carriers. Vale's mega ships, the world's biggest bulk ore carriers, have been barred from China since January 2012 due to rules which disallowed ships of more than 250,000 dwt in capacity. An internal circular issued last week by the Ministry of Transport and seen by Reuters on Wednesday said it would now

Iron Ore Carrier Ore Sao Luis Completed

Tokyo—Mitsui O.S.K. Lines Ltd. announced the completion of the 297,000-ton iron ore carrier Ore Sao Luis at the Universal Shipbuilding Corporation, Ariake Shipyard. The Ore Sao Luis will transport iron ore from Brazil mainly to China, under a long-term contract with Vale.   Among those on hand for the naming and delivery ceremonies were Vale International General Manager, Shipping, Pietro Allevato, who named the vessel

China Rongsheng Names, Delivers 380,000 dwt VLOC's

Vale VLOC: Photo credit Vale S.A.

China Rongsheng Heavy Industries christened the first of two 380,000 DWT Very Large Ore Carriers built for Oman Shipping deliivers another of the same to Vale S.A.  China Rongsheng Heavy Industries Group Holdings Limited today christened the first two 380,000 DWT Very Large Ore Carriers (“VLOC”) built for Oman Shipping Company S.A.O.C. (“Oman Shipping”). The vessels will set for sea trial and enter into the final delivery stage soon.

Bazil's Vale, China's CMES Sign VLOCs Agreement

MS Vale Brasil. Photo: Vale

 Brazilian mining giant Vale and the China Merchants Group (CMES) signed an expanded framework deal for strategic co-operation on iron ore shipments. Vale has agreed to sell four large iron-ore carriers to CMES.   The world's largest producer of iron ore said in a statement the details of the contract had not yet been finalized and will be released in the coming months.   "No price has yet been disclosed for the four vessels

CSD, Cosco JV to Buy Vale's Bulk Carriers

Ma Zehua (Chairman of Cosco Group),  Xu Lirong (Chairman of China Shipping Group) Murilo Ferreira (President&CEO of Vale) and Gurinder Singh(Director of Shipping & Distribution of Vale) attended the Signing Ceremony and signed the agreement on behalf of each party. Photo by Cosco

 China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them.   CSD and Cosco’s bulk shipping division Cosco Bulk Shipping holds 49% and 51% equity shares in the JV respectively.    China Ore Shipping will buy four second-hand valemax vessels from Vale Shipping Singapore Pte

Vale Sells 3 Valemax Iron Ore Ships to ICBC

Brazil's Vale SA said it has sold three of its giant "Valemax" iron ore ships to a group led by Industrial and Commercial Bank of China, continuing efforts to unload assets to cut debt and focus investment on its main mining activities.

Oil Spills from VLOC in Strait of Malacca

Incident of oil spill Photo Berge Bulk Maritime

Berge Bulk Maritime confirms that an its VLOC (Very Large Ore Carrier)  “BERGE BUREYA” – (IMO/LR # 9297539) operated vessel was involved in an oil spill incident off Malaysia in the Malacca Strait earlier yesterday morning.  

Chinese Leasing Companies Role in Ship Finance

Graph: Clarksons Research

 Clarksons Research takes a look at Asian shipping finance that has increased in prominence globally with finance from the traditional lending base more difficult for many to access since the global financial crisis.   Within this wider trend

MacGregor's Pusnes Deck Machinery for Vale's New VLOCs

Pusnes - Deck Machinery Photo MacGregor

MacGregor has won Pusnes deck machinery orders for a new series of 400,000 dwt very large ore carriers (VLOCs) under construction at Chinese shipyard, Qingdao Beihai Shipbuilding Heavy Industries. The orders are booked in Cargotec's 2016 third quarter order intake.  

Great Lakes Ore Trade Dips in August

Photo: Interlake Steamship

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5.9 million tons in August, a decrease of 19 percent compared to a year ago, according to the Lake Carriers’ Association (LCA).   LCA said the ore trade was suppressed by continued high steel imports levels

It's All in the Planning

Photo courtesy of BMT Group

Continuing voracious demand for mined materials in China, India and other developing nations has led to an associated requirement for increased bulk terminal capacity for both export by suppliers and import by users. Whether developing an existing facility or building from scratch it is imperative

Vale Says Ships Sale, Leaseback Could Fetch $1.1 Bln

Brazil's Vale SA said on Friday that it plans to sell its 11 remaining Valemax iron ore carriers and lease them back in transactions that could raise $1.1 billion. Vale has said it has experienced some delay in selling the ships, the key to its attempt to cut transportation costs between its

Vale Completes Sale of 4 Ore Carriers to Chinese Consortium

File image (Vale): a Valemax Bulk carrier at the berth loading cargo.

Brazilian iron ore miner Vale SA said late on Tuesday in a filing it had completed the sale of four very large ore carriers (VLOC), also known as Valemax class ships, to a consortium lead by ICBC Financial Leasing. ICBC is a subsidiary of the Industrial and Commercial Bank of China Limited.

Recent Vessel Sales - December 2015

Vessel sales for December 2015 (as of January 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age) - Price in Millions USD Bulk Carriers 12/10 - AMINE BULKER - 28,700 - 07 - (8) - $6.3

Great Lakes Freighters Getting Underway Again

The Lake Carriers’ Association (LCA) announced that the 2016 shipping season on the Great Lakes began on March 2 when the tug/barge unit Dorothy Ann/Pathfinder loaded 4,600 tons of iron ore at Cleveland Bulk Terminal for delivery to ArcelorMittal Cleveland at the end of the navigable portion

Asia Dry Bulk-Capesize Rates Flat as Rally Fades

A ValeMax buk carrier at the berth (File image: Vale)

Higher fuel prices could help lift freight rates - Shanghai broker. Freight rates for capesize bulk carriers on key Asian routes are likely to hold around the current levels, after a revival in charter rates this week ran out of steam as the fundamentals of too many ships chasing little cargo

Chinese Shippers Order for 30 Valemax Vessels

Valemax vessels. Photo: Vale

 The Chinese shipping companies - Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co- ordered 30 Valemaxes worth a combined $2.5 billion for delivery starting from 2018, deployed on Brazil-China trade routes, reports WSJ.  

Valemax Mastermind Roger Agnelli Dies in a Plane Crash

Roger Agnelli. Photo: Vale SA

 The man responsible for giving the dry bulk industry the valemax died on Sunday  in a Sao Paulo plane crash.   Roger Agnelli, the former head of the Brazilian mining giant Vale, has died after his private jet crashed into a residential building in Sao Paulo, local media reported

COSCO orders 10 Valemaxes from CSSC

Photo: Vale

 China Cosco Shipping Group has inked a contract with China State Shipbuilding Corp to build 10 valemaxes. The contract was signed on Thursday.   The giant bulk carriers will all be constructed at CSSC’s flagship yard, Shanghai Waigaoqiao Shipbuilding, CCSG said in a press release

Yangzijiang Bags Orders for Six VLOCs

Photo: Yangzijiang Shipbuilding Group

 China’s biggest private shipbuilder Yangzijiang Shipbuilding Holdings Ltd has won orders for six dry bulk carriers worth a combined US$510 million.   The 400,000 DWT very large ore carriers (VLOCs) are the largest dry bulk carriers ever awarded to the group

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright