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Ore Carriers

CMES Establishes Subsidiary for Valemax

Valemax. Photo by Vale.

 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.   The new Hong Kong-based subsidiary will own the four Very Large Ore Carriers (VLOC) or "Valemax" vessels, purchased at a total price of $448m by CMES.   The 400,000-deadweight-tonne ships are some of the largest ships ever built and were sold under accords between Vale and China Merchants.   CMES had earlier entered into a deal for it to order 10 VLOCs against a 25-year contract of affreightment (COA) with Vale.   Vale Shipping Singapore, the vehicle that owns the valemaxes and subsidiary of Vale, will hand over the ownership of the giant ore carriers to CMES some time this month.   China Shipping Development (CSD) and Cosco have also together established a joint venture, China Ore Shipping, in Singapore in May to operate valemaxes.   China Merchants Energy Shipping Co., Ltd., together with its subsidiaries, engages in the ocean transportation activities in China. The company is involved in tanker transportation, bulk cargo transportation, liquefied natural gas (LNG) vessel transportation.   


Vale Concludes Sale of VLOCs to Cosco

Vale Brasil. Photo by Vale

 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.   The transaction amounted to 445 million dollars and the amount will be received by Vale upon delivery of the vessels to Cosco, which is scheduled to take place in June 2015.  


Capesize Rate Jump Driven By Japanese Steel Market

Booming Capesize rates have been driven by increased Japanese steel production more than they were by the August market raid by Belgium's Bocimar when it chartered about 35 ships, according to shipping sources. Capesize spot rates have doubled over the last three months with the market now looking for $15-16,000 for a Pacific round trip, compared with about $7,500 in August. Atlantic rates have also soared, although this is partly due to the grounding of the 274


STX Wins Shipbuilding Order

STX Shipbuilding won a $247.3m order from Europe to build two very large ore carriers, according to a Reuters report, with delivery scheduled for 2012.


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


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


U.S.-Flag Fleet Moves Less Cargo

Reduced demand for domestically-made steel and uneven demand for stone from the construction industry again produced a shortfall in U.S.-Flag carriage on the Great Lakes in August. Cargo movement in U.S. bottoms totaled 12,761,930 net tons, a decrease of 8.3 percent. The season-long slump has now left a gap of 6.2 million tons between the end-of-August totals in 1999 and 1998. Steel mill-bound iron ore cargo slipped below six million tons in August


MOL Launches Iron Ore Carrier

Mitsui O.S.K. Lines, has launched one of the world’s largest iron ore carrier, the Brasil Maru (327,180 MT DWT). Naming and delivery ceremonies were held at the Mitsui Engineering & Shipbuilding Co., Ltd. Chiba Works on December 7, 2007. It will transport Brazilian iron ore to Japan under a long-term contract with Nippon Steel Corporation. The new ship is the third-generation of MOL vessels to carry the Brasil Maru name


Report: Valemax Vessels Could Call Other Ports

Vale SA, the iron-ore producer building a fleet of the world’s largest commodities ships, said its Vvalemax vessels carrying the raw material can stop at other countries if not allowed to enter Chinese ports, according to a Bloomberg report. The fleet, which will have the capacity to transport about 60 million metric tons of iron ore per year once fully in operation, can serve alternative ports including those in Malaysia and Oman. Vale is spending a reported $8


Vale, Cosco to Cooperate on Iron Ore Shipping

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 large iron ore carriers of 400,000 deadweight tons to Cosco. It would then lease them back from Cosco, the state-owned parent of top Chinese dry bulk shipper China Cosco , for 25 years.


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


Mega Valemax Enteres China for First Time in Two Years

 Valemax “Yuan Zhuo Hai”. Pic: China Ocean Shipping Company (Cosco)

 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.  


Foreign Steel Cuts Lakers’ Ore Float in June

 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


Vale Sells Four 'ValeMax' Bulkers to China Merchants

A ValeMax very large ore carrier (file image: Vale)

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


MERS-equipped Ship Records 8% Fuel Savings

140522_MERS WEB.jpg

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


Yangzijiang to Build Huge Ore Carriers for Australia

Hanjin Ami, Yangzijiang’s fourth 10,000TEU delivered June 16

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


MCSS, EMP Enter Sales and Support Agreement

aquarius_mas_diagram_448x316.jpg

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


China Seeks to Build Shipping Railways in Brazil

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


China, Brazil Close Plane, Finance, Infrastructure Deals

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


ClassNK Expands Joint Research in Europe

Marco Schneider, Project Manager, CFD, HSVA; Noboru Ueda, Chairman and President, ClassNK; Yasushi Nakamura, Executive Vice President, ClassNK; Capt. Herman Visser, Oldendorff Carriers

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


Vale to Lease 10 China Merchant Bulkers

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


Japan Shipyard Orders Continue Decline

(Pic Source: JSEA)

 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


Valemax Ship Gets Go-ahead at Chinese Ports

Valemax ship (Source: Vale)

 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.  


Panama Okays New Canal Toll Structure

Toll infographic (Source: Panama Canal)

 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.  


Vale to Sell 4 Large Iron Ore Carriers to CMES

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






 
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