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 Holdings Inc.’s shipbuilding unit is reportedly aiming to win orders for as many as five iron ore carriers, according to a report on www.businessweek.com. 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
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
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
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
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.
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 Heavy Industries Group Holdings Limited has delivered the 380,000 dwt class Very Large Ore Carrier (VLOC) 'Vale Caofeidian' to Brazil's Vale S.A. The vessel is the fourth 380,000 DWT class VLOC delivered by the Group this year and its eleventh delivery of VLOC's overall. The Chinese shipbuilders have successfully delivered 11 VLOCs, while most of those remaining have been launched and are under outfitting process.
Singapore’s Berge Bulk to sign a LOI for the constructions with CSSC Guangzhou Longxue Shipbuilding & CSIC Bohai Shipbuilding Heavy Industry. Singapore’s Berge Bulk is planning to place an order for up to eight very large ore carriers (VLOC) at China’s two state-owned shipyards. The eight newbuildings are scheduled for delivery in 2014 and 2015 and are expected to cost around $57-58m per ship.
More than 250 responders from 50 different federal, state and local agencies will test Lake Erie contingency plans in a two-day mass casualty and pollution exercise beginning Nov. 5 at the Erie Port Authority Cruise Ship Visitors Terminal. The exercise, centered around a simulated collision between a cruise ship and an ore carrier, is designed to focus on a broad range of themes including search and rescue, emergency medical care, immigration, law enforcement and environmental response
Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very
Class Society Joins Joint R&D Project for Bulk Carrier Safety with Germany’s HSVA and other European Research Institutions Classification society ClassNK announced that it will join a new European Joint R&D project to ensure bulk carrier safety
While infrastructure projects, especially canals, bear a certain element of inherent skepticism, their impact on global trade flows should not be taken lightly. Although the Panama Canal’s expansion will likely have a more muted effect on the tanker market than other shipping sectors
China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer. In a raft of energy, finance and industry accords signed before presidents Xi Jinping and
Brazil hopes that during a visit by Chinese President Xi Jinping it can boost ties with its biggest trade partner beyond the exchange of commodities for manufactured goods, but that may be wishful thinking. Accords China will sign with Brazil when Xi meets with President Dilma Rousseff on
Sales and technical support agreement signed for Singapore and Myanmar. Eco Marine Power (EMP) announced that it has entered into a sales and support agreement with MINs Control Systems Solution Pte. Ltd. (MCSS) to sell and support EMP's renewable energy solutions for shipping in Singapore and
Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker, may start talks on a contract to transport iron ore from Brazilian miner Vale on Valemax ships, the world's biggest bulk carriers, to cut costs, a senior official said. Such a contract would be a boost for Vale
Chinese shipbuilder on the SGX Main Board Yangzijiang Shipbuilding Holdings Limited announced that it has secured a shipbuilding contract for four 260,000DWT very large ore carriers (VLOC). The shipbuilding contract was secured from an Australia based ore company listed on the Australian
The push to outfit commercial vessels with energy saving equipment continues, and news out of Japan says that a Mitsubishi Energy Recovery System (MERS) supplied by Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME) was installed on a VLOC (Very Large Ore Carrier) for
Eco Marine Power (EMP) today revealed details of its Aquarius Unmanned Surface Vessel (USV) and announced that it will begin work related to the construction of a prototype. The Aquarius USV is being developed as a cost-effective unmanned surface vessel (USV) and will incorporate a number of
Award recognizes MOL’s Development of a Waste Heat Energy Recovery System for Marine Diesel Engine Used to Generate Electric Power and Assist Ship Propulsion Mitsui OSK Lines, Ltd. today announced receipt of the 2014 Japan Society of Naval Architects and Ocean Engineers (JASNAOE) Award
Classification society ClassNK announced today that it has released an updated edition of the Rules and Guidance for the Survey and Construction of Steel Ships. ClassNK continuously reviews, updates, and amends its technical rules and guidance as part of its ongoing efforts to improve the
China Supreme Court says Mitsui pays about $29 mln; Ship released about 0030 GMT Thursday. Ship was seized over dispute dating back to 1930s. Advisor to plaintiffs says will likely demand more money. Japan's Mitsui O.S.K. Lines Ltd paid about $29 million for the release of a ship seized by
Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-tonne ore carrier, is ready to leave a Chinese port soon after it paid a Chinese court to release the vessel from seizure.
It all began with a pre-World War II contract between China's then "ship king" and a Japanese company to lease two Chinese freighters. When the one-year lease was up in 1937, the ships were nowhere to be found. That year also marked the start of a full-scale war between China and Japan