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China Merchants Heavy Industry to build new valemaxes for affiliate CMES
CHINA Merchants Energy Shipping (CMES) plans to order 10 very large ore carriers (VLOCs), or valemaxes, of which two of the 400,000-dwt VLOCs will be built at its affiliate China Merchants Heavy Industry (Jiangsu) Co.
The other eight valemaxes will also be built in China but the specific shipyard has not been disclosed, reported Seatrade Maritime News.
The order for the newbuildings came after CMES and Brazil's mining giant Vale brokered a deal in September 2014 whereby CMES would order 10 VLOCs against a 25-year contract of affreightment (COA) with Vale, including a five-year extension option.
This July CMES confirmed an agreement to purchase four valemaxes for a total of US$448 million from Vale.
The 10 new VLOCs will bring CMES's fleet of valemaxes to 14.
The other eight valemaxes will also be built in China but the specific shipyard has not been disclosed, reported Seatrade Maritime News.
The order for the newbuildings came after CMES and Brazil's mining giant Vale brokered a deal in September 2014 whereby CMES would order 10 VLOCs against a 25-year contract of affreightment (COA) with Vale, including a five-year extension option.
This July CMES confirmed an agreement to purchase four valemaxes for a total of US$448 million from Vale.
The 10 new VLOCs will bring CMES's fleet of valemaxes to 14.
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