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
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
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.
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
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
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
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
China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set up a wholly owned subsidiary China VLOC Company Limited to operate 400,000 dwt ore carriers in Hong Kong.
Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China's state-owned China Merchants Energy Shipping Co in September. The 400,000-deadweight-tonne ships
With foreign steel now commanding nearly 32 percent of the U.S. market, it was inevitable that iron ore cargos hauled in U.S.-flag Great Lakes freighters (lakers) would take a hit, and that hit came in June, the Lake Carriers’ Association (LCA) reported. Cargos totaled 4
Mega-ore carrier Valemax Yuan Zhuo Hai, which is owned by China Ore Shipping, has arrived Dongjiakou Port in Qingdao for unloading iron ore. This is the first entry of such a bulk carrier tonnage in the sea port of China for the past two years.
Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September. This transaction is related to the agreement signed with Cosco on September 12, 2014.
Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES) , as it looks to raise cash in the midst of an iron ore price slump. The world's largest producer of iron ore said in a statement the details of the contract
Panama’s cabinet council has approved a request by the Panama Canal Authority (ACP) to modify the canal toll structure and implement volume-based discounts for container ships. The new toll schedule will take effect April 1, 2016.
China has amended its port rules to allow fully loaded 400,000-deadweight tonnes (dwt) dry bulk cargo ships to dock at the country’s mainland ports. The ban affected the type Valemax ships, cargo ships built by Vale with capacity of 400 thousand tons.
In December 2014, orders of Japan yard fell 37% year on year, says Japan Ship Exporters’ Association (JSEA). Japanese shipyards specialize in building dry bulk carriers. JSEA member yards secured 24 export orders totaling 1,215
Brazil's iron ore miner Vale SA said on Friday it secured a deal with China Merchants Group to lease for 25 years as many as 10 very large ore carriers, which will be built by China Merchants, to ship ore from Brazil to mainland China. Vale had commissioned at least 35 VLOCs
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
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