China & Brazil Sign $1.6B Shipbuilding Pact

Wednesday, August 06, 2008

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)
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

First LNG-powered EcoLiner Launched

Europe’s greenest inland vessel debuts Damen group innovations   Damen Shipyards Group launched the first LNG-powered Damen EcoLiner inland shipping tanker

Zamakona to Deliver Tuna Freezer Vessel

Zamakona Yards to deliver tuna freezer vessel Jai Alai to the Echebastar Group   This Saturday, March 7, Zamakona Shipyards in Santurce will deliver its construction number 737,

CTruk OWSV Enhanced with Volvo IPS

Since the launch of its first-of-class CTruk MPC22 late last year, the East Anglia-based workboat designer and builder informs it has incorporated performance feedback

 
 
Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1491 sec (7 req/sec)